The Minister of Finance, Mohamed Maait, said that the petroleum sector achieved a surplus of EGP 3 billion in Q1 2019/2020, according to a statement by the Cabinet.
According to Maat, the initial report of the financial performance stated an improvement in the gross relationship between the state treasury and the petroleum sector,
This was announced during the weekly meeting of the cabinet with the minsters numbered (74).
The meeting concluded some decisions including extending the work of the cooperation protocol conducted between the Ministry of Petroleum and Mineral Resources and the Ministry of Public Business Sector, which aimed at repaying the arrears in favor of the petroleum sector.
Maait noted that these debts are from the dependent companies of the Ministry of Public Business Sector which are about the value of natural gas withdrawals.