Madbouly Reviews Petroleum Sector Measures to Secure Local Market Needs

Madbouly Reviews Petroleum Sector Measures to Secure Local Market Needs

Prime Minister Mostafa Madbouly met with Tarek El Molla, Minister of Petroleum and Mineral Resources, to follow up on the availability of petroleum products to meet the needs of the local market, especially in light of the continuing repercussions of the global crisis due to the Russian-Ukrainian conflict.

Madbouly stated that Egypt is keen to follow the developments of the current global crisis in various sectors to mitigate its fallout on the Egyptian economy.

The meeting reviewed the measures taken by the oil and gas sector to meet the various needs of petroleum products, in light of the effects imposed by the current Russian-Ukrainian crisis, and the rise in global energy prices, with the aim of maintaining the stability that has been achieved with regard to local market supplies of oil and natural gas and their products, and the sustainability of securing these supplies to meet demands.

El Molla said that the petroleum sector is working according to an integrated system to intensify efforts to increase Egypt’s production of high-quality petroleum products and reduce imports from abroad through the rapid development of new discoveries.

The sector further works to increase the production capacity of Egyptian refineries, as well as expand the application of the digital transformation system, to measure and control the trading system of crude oil and petroleum products.

Sarah Samir 2901 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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