Alexandria Mineral Oils Company [AMOC.CA] is awaiting the approval of the Egyptian General Petroleum Corporation (EGPC) to finalize the deal of importing 1,500bbl of condensates from Dana Gas , according to the company’s Chairman Amr Mostafa. He added that 85% of the contract terms with Dana Gas have already been met and the final agreement is expected to be finalized within one month. He also noted that the refining process would take place at the Tanta refinery for volumes ranging between 1,300 to 1,500 bbl/Month. This activity comes as a continuation of AMOC's strategy to capitalize on its abundance of cash through refining at other refineries operating below full rates.
 
AMOC: EGP10.55 as of 10 Aug. 2017, Rating: Neutral, TP: EGP9.70/share, MCap: USD512mn, AMOC EY/AMOC.CA