The British Egyptian Business Association (BEBA) hosted a webinar in honor of Tarek El Molla, Minister of Petroleum and Mineral Resources, highlighting the oil and gas sector's achievements.
Angola’s finance minister, Vera Daves de Sousa, has announced plans to start partial disposal of the national oil company (NOC) Sonangol by the end of 2021 or early 2022.
The International Monetary Fund (IMF) has declared Iraq's oil production and oil fields unaffected by the nationwide protests.
The oil and gas sector has succeeded in terms of self-sufficiency, manufacturing and exporting, President Abdel Fattah El Sisi said during the “Ask the President” session, as part of the National Youth Conference held on July 30-31.
The Egyptian Cabinet announced the new fuel prices on July 5, increasing prices by around 25% after subsidy cuts.
The staff-level agreement will still be pending approval from the IMF executive board, which will make the final $2-billion tranche available, bringing total disbursements to $12 billion.
The Egyptian government is keen to attain full cost recovery for all fuel products, except for liquefied petroleum gas (LPG) and fuel used in power plants and in bakeries by the end of FY 2018/19.
Lall praised the economic reform measures taken by Egypt that boost the country's investments and enable its private sector to continue growing.
The IMF board completed the fourth review of Egypt's economic reform program, allowing the fifth tranche to be disbursed to the North African country.
Christine Lagarde, IMF Managing Director, recommends IMF board to approve the fourth review of Egypt's IMF loan facility.
