EGP 30B Invested to Develop Public Sector Oil Companies

Source: www.oilegypt.com 1/16/2022, Location: Africa

Minister of Petroleum and Mineral Resources Tarek El Molla said the volume of new investments earmarked to develop the oil companies of the public sector reached for the first time EGP 30 billion in the budget of new fiscal year 2022/2023.

The minister's statements came as he presided over a meeting of the general assemblies of oil companies of the public sector in the presence of Minister of Local Development Mahmoud Shaarwy.

The minister presided over the general assemblies of Al Nasr Petroleum Company and Suez Oil Processing.

He described as unprecedented the volume of development of the oil sector during the past years, pointing out that the fruit of the economic reform program launched by the political leadership started to appear.

For his part, minister Shaarwy hailed the development of the oil sector which came as part of an ambitious program of the country's modernization process.

At the end of the meeting, minister Mollah adopted the new investment budget of the two oil companies.


Japan >>  5/23/2022 - JGC Holdings Corporation and JGC Japan Corporation announce that they have used their jointly managed corporate venture capital fund (CVC) called the ...
Morocco >>  5/12/2022 - - €40 million loan to Morocco’s Agence Nationale des Ports (ANP)
- Financing to enhance the climate resilience of selected Moroccan ports
-...


Norway >>  5/12/2022 - Neptune Energy announced its financial results for the three months ended 31 March 2022. ...
South Korea >>  5/12/2022 - - Hanwha Solutions will expand its solar module factory in U.S. and cell production facility in Korea, to meet the growing global demand for reliable ...

United Kingdom >>  5/12/2022 - - Corio Generation partners with Ontario Teachers’ Pension Plan to support the development of up to 9GW of offshore wind worldwide
- Ontario Teac...

United Kingdom >>  5/10/2022 - Neptune Energy has announced it will spend more than $1 billion(1) over the next five years securing energy supplies for the UK and speeding the trans...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.