Minister of Petroleum and Mineral Resources, Engineer Tarek El Molla, made a historic announcement as he handed over the very first license for international companies to practice bunkering services in Egyptian ports. The recipient of this groundbreaking license is none other than the esteemed Minerva Group, which is set to commence its bunkering operations from the renowned Port Said Port.
This momentous occasion marks the beginning of a strategic initiative aimed at maximizing the added value of Egyptian ports and further leveraging the significance of the vital Suez Canal facility. Minister El Molla emphasized that the issuance of the inaugural license in this sector sets the stage for a series of transformative steps, propelling the bunkering industry to new heights within the Egyptian context.
The decision to grant the license to Minerva Group is a testament to their exceptional capabilities, industry expertise, and commitment to delivering top-notch bunkering services. With their wealth of experience and global reputation, Minerva Group is well-positioned to provide unparalleled services in Egyptian ports, catering to the diverse needs of international ships.
Minister El Molla highlighted the pivotal role that this milestone license plays in boosting the growth and development of Egypt’s port infrastructure. By facilitating the efficient bunkering of ships, the government aims to strengthen Egypt’s position as a key player in the maritime industry while fostering economic prosperity and attracting international investments.
The committee responsible for overseeing the establishment of the new bunkering system, led by the Minister of Petroleum and Mineral Resources and comprising representatives from the Ministry of Transport, the Suez Canal Authority, and the General Authority for the Suez Canal Economic Zone, carefully evaluated and reviewed applications from international companies seeking to participate in this activity. After a rigorous selection process, Minerva Group was granted the prestigious license to engage in bunkering services.
During the handover ceremony, Minister El Molla and the Minerva Group delegation discussed the company’s comprehensive range of services. As a part of the globally recognized “Mercuria” group, Minerva Group brings extensive expertise in fuel supply, commodities, ship catering, low-carbon economy solutions, and more. The minister emphasized the importance of forging successful partnerships to achieve the ministry’s strategic objectives, highlighting the vast opportunities for cooperation and investment within the petroleum sector.
Expressing their delight at being awarded the license, the Minerva Group delegation expressed their commitment to collaborate closely with the committee’s team. They acknowledged the pivotal role of Egypt and the historic significance of the Suez Canal as a vital global maritime artery. Leveraging their extensive experience across approximately 50 countries worldwide, Minerva Group is poised to provide exceptional bunkering services in Egypt, combining financial stability, logistical efficiency, and a commitment to digital transformation and transparency.
The ceremony witnessed the presence of key industry figures, including Geologist Alaa El-Batal, CEO of the Egyptian General Petroleum Corporation, and representatives from the Ministry of Transport, the Egyptian Natural Gas Holding Company “EGAS,” and the Petroleum Authority. The Minerva Group delegation comprised esteemed executives, such as Maged Shenouda, Executive Vice President of Mercuria Group, Tyler Barron, CEO of Minerva Group, Kostas Polidakis, CEO of MM Marine, Matteo Vallot, Managing Director of Mercuria, and Mohamed Nabil Fahmy, Group Partner and Representative in Egypt.
This landmark event sets the stage for an exciting future in Egypt’s bunkering industry. With Minerva Group at the forefront, the nation is poised to attract increased investment, elevate its global standing, and enhance the efficiency and quality of bunkering services offered in Egyptian ports.