The Ministry of Petroleum has appointed Kamel Hassan as Chairman and Managing Director of International Drilling Material Manufacturing Co. (IDM), Al-Ahram reported.
IDM was established under the supervision of the Egyptian Ministry of Petroleum in accordance to the Egyptian laws of investments and incentives guarantees (Law no.8 of year 1997).
Iranian Petroleum Minister Javad Owji announced that his ministry will contribute $4 billion in investments to developing oil and energy projects at Ilam province, a press release issued by the National Iranian Oil Company (NIOC) reported.
The protocol comes within the framework of the extended and fruitful cooperation between the two ministries to exchange experiences and jointly benefit from scientific expertise.
The financing protocol was signed by Ahmed Kamali, Undersecretary for the Ministry of Planning, and Magdy Galal, Chairman of the Egyptian Natural Gas Holding Company (EGAS).
The ministry adopted new strategies that depended on continuous development and modernization, which gave strong impulses to the oil and gas sector to achieve unprecedented success stories over the past seven years.
Loading ...| Commodity CMDTY | Units | Price | Change |
| Crude Oil (WTI) WTI | USD/bbl | 70.76 | +1.83% |
| Crude Oil (Brent) Brent | USD/bbl | 74.25 | +1.60% |
| NYMEX Natural Gas | USD/MMBtu | 3.81 | +4.07% |
| OPEC Basket Price | USD/bbl | 71.61 | +2.26% |
Last Modified December 7, 2021
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