The Minister of Petroleum and Mineral Resources Tarek El Molla stated that the ministry aims to deliver natural gas to one million households in fiscal year (FY) 2020/21, according to the Cabinet.
In a meeting with Prime Minister Moustafa Madbouly, El Molla reviewed several ongoing projects that are expected to be finished soon. During the meeting, it was noted that Egypt has an adequate amount of petroleum products and butane cylinders, whereas Madbouly recommended increasing the stock to take advantage of the current oil price drop.
Additionally, Madbouly reviewed the ongoing cooperation projects with international oil companies (IOCs), noting that the country is keen to increase the number of projects for exploration and production (E&P). For his part, El Molla referred to the petroleum sector’s recent achievements which included the Cabinet’s approval of 12 E&P bills related to the oil and gas sector.