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).
The International Drilling Material Manufacturing Company (IDM) renews the ISO 9001: 2015 for quality management system Certificate, the API Q1 9th Edition Certificate issued by the American Petroleum Institute for Quality Management Systems for manufacturing organizations in the oil and natural gas industry, and the API 5CT 10th Edition Certificate for manufacturing pipes for lining and drilling oil wells, according to the General Trade Union for Petroleum Workers.
The House of Representatives gives the final approval on amending Article 34 of the Investment Law No. 72 for 2017 allowing the licensing of natural gas-based industry projects, especially fertilizers and petrochemicals, to work under the free zones systems.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, accompanied by Adel El-Ghadban, Port Said's Governor, launched two new oil tankers (Egypt 2,3) to supply ships with fuel in the Port Said Port, with investments estimated at $14 million in favor of Misr Petroleum company.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, has witnessed the signing of an executive agreement with the International Islamic Trade Finance Corporation (ITFC), to finance petroleum products imports and food commodities for 2020, with an estimate of $1.1 billion.
Loading ...| Commodity CMDTY | Units | Price | Change |
| Crude Oil (WTI) WTI | USD/bbl | 52.19 | -0.32% |
| Crude Oil (Brent) Brent | USD/bbl | 54.87 | -0.42% |
| NYMEX Natural Gas | USD/MMBtu | 2.62 | -4.27% |
| OPEC Basket Price | USD/bbl | 55.19 | -1.11% |
Last Modified January 18, 2021
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