Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that discussions are ongoing with the Ministry of International Cooperation to obtain part of their loan of dollars.
Japanese Ambassador to Cairo Takahiro Kagawa said that his country is ready to provide all the help that it can in relation to energy-saving, especially in light of the energy crisis Egypt is facing.
Tarek El Molla, Minister of Petroleum and Mineral Resources met with the heads of Petrogas, Petrosafe, EPROM, Petroleum Pipeline Company and MID TAP to discuss methods of ensuring a steady supply of LPG during the coming winter season, reported Egypt Oil & Gas.
Egypt Oil & Gas learned that Petroleum Minister Tarek El Molla appointed Mohamed Al-Masry as Head of the Egyptian General Petroleum Corporation (EGPC).
Egypt Oil & Gas learned that Tarek El Molla, Minister of Petroleum and Mineral Resources, held an extended meeting with heads of fuel distribution companies in Egypt to put together an advanced strategy for distributing petroleum derivatives for the coming period and to eliminate outlying problems facing this key sector.
A state official told Egypt Oil & Gas that higher dollar exchange rates in the local market are threatening the ability of the Egyptian government to repay debt installments to international oil companies (IOCs), especially as some IOCs reject payment of dues in Egyptian Pound, and insist on foreign currency.
Prime Minister Sherif Ismail, and Petroleum Minister Tarek El Molla are to meet with Giorgos Lakkotrypis, Cyprus' Energy Minister today to discuss energy.
A source at the Petroleum Ministry told Egypt Oil & Gas, that the ministry will monitor all LPG warehouses. The decision comes in part of the government's efforts to tighten control on fuel smuggling.
The minister of petroleum and mineral resources, Tarek El Molla, met last week with the heads of Misr Petroleum, Co-operation Petroleum, and Total Egypt to discuss issue of fuel supply.