Cairo based multilateral development bank Afreximbank this week dispersed a $200mn loan to Egyptian state oil firm EGPC $200mn “to support EGPC’s investment in the Middle East Oil Refinery Company (Midor).” Midor, 98% owned by EGPC, operates a 100,000 b/d capacity refinery at Alexandria on Egypt’s Mediterranean coast.

EGPC has ongoing plans to expand Midor capacity to 160,000 b/d by 2020.

The $200mn facility has the additional aim of “supporting EGPC’s...