Tarek El Molla, met with Dana Gas to review plans for its joint venture El Wastani Petroleum Company (WASCO) to drill new wells to be added to production, as well as linking existing wells from Balsam field to production.
The Egyptian Ministry of Petroleum and Mineral Resources will receive $250m from the Ministry of Finance within January to pay dues of fuel providers to be able to import more fuel and release any cargo held in the Egyptian Ports.
Egypt, led by Prime MinisterSherif Ismail, decided to delay increasing fuel prices to May 2017. This came in hopes to linking the price hikes to the generalization of the third phase of fuel smart cards across the country.