Tarek El Molla, Minister of Petroleum and Mineral Resources, said that the ministry aims to renegotiate the current contracts with IOCs, in order to achieve economic balance between the foreign investor and state companies, reported Egypt Oil & Gas.
El Molla, also stated that a new plan for infrastructure development will be implemented, developing refineries, such as MIDOR refinery in Alexandria.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that Egypt will have about 1,000,000 vehicles run on natural gas within the including converting and replacing 450,000 cars during three years in addition to 350,000 was previously converted.
Gastec company announced that it has established mobile station to supply natural gas for the first time in Egypt.
Eni company has delivered 20 ventilators to the Egyptian health sector worth $600,000 in light of the anti-covid medical supply initiative organized by the petroleum sector as well as international oil companies (IOCs) to support the efforts of the Ministry of Health to combat the pandemic.
Petromiant company has announced that its net profit increased by 24% for the first time during 2020.
Loading ...| Commodity CMDTY | Units | Price | Change |
| Crude Oil (WTI) WTI | USD/bbl | 62.87 | -0.44% |
| Crude Oil (Brent) Brent | USD/bbl | 66.33 | -0.38% |
| NYMEX Natural Gas | USD/MMBtu | 2.60 | -0.69% |
| OPEC Basket Price | USD/bbl | 61.87 | +0.67% |
Last Modified April 15, 2021
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