Prime Minister Mostafa Madbouly met with Tarek El Molla, Minister of Petroleum and Mineral Resources to review the ministry’s work in a number of different areas.
Madbouly started the meeting by noting the great importance the government attaches to the file of the availability of an adequate reserve of petroleum products, in light of the global conditions imposed by the Russian-Ukrainian crisis, where the prices of petroleum products are witnessing an unprecedented rise.
In this regard, El Molla pointed out the availability of petroleum commodities at safe levels, as the ministry is watching the global changes closely to follow up the latest developments and the price movement.
During the meeting, the minister presented the activities of the oil and gas sector, especially in the field of exploration for petroleum and natural gas.
El Molla also reviewed the developments of exploration and production activities, as well as developments in regional cooperation in the energy file and developments in the country’s efforts to transform into an oil and gas regional trading hub.
Accordingly, El Molla explained that the projects being implemented in the petroleum sector across Egypt aim to secure the needs of the local market, reduce the import gap, and contribute to the country’s efforts to increase economic growth rates.