Petroleum Minister Osama Kamal denied on Tuesday rumors that he sacked chairman of Misr Petroleum company.
An upper management reshuffle aimed at developing the performance of the company and giving a new breath to face challenges in the petroleum products markets in Egypt, he said.
Kamal has named Saeed Mostafa, head of state-owned refiner and distributor Petrotrade, as chairman of Misr Petroleum, Egypt's largest distributor of petroleum products.
Mostafa succeeds Nasr Abu al-Saud, who had been Misr Petroleum's chairman since late 2011.
He also named Tarek El-Molla as deputy chief executive officer for operations at state oil company Egyptian General Petroleum Corp, succeeding Amr Mostafa.
The decision was made on the back of a recent diesel crisis that hit the market recently.