Egypt’s Prime Minister Mostafa Madbouli on Saturday followed up on steps taken to increase the production of petroleum products as well as measures related to providing necessary financial allocations to the petroleum sector to ensure its availability within the coming period.
This came in Madbouli’s meeting with Finance Minister Ahmed Kouchouk and Petroleum Minister Karim Badwi.
Madbouli said today’s meeting is part of a series of meetings aiming at following up on the provision of necessary financial allocations for the petroleum sector to secure the country’s needs of petroleum products for various productive, developmental and service sectors.
Spokesman for the Cabinet Mohamed el Homosani said the meeting also tackled efforts of the Ministry of Petroleum to increase the production capacity of both petroleum and natural gas sectors within the coming period in cooperation with many foreign partners.
It also touched on efforts to intensify research and exploration operations as well as incentives provided in this regard to attract more investments and maximizing the investment opportunities available in this promising sector in a way that contributes to meeting the needs of the local market for petroleum products, and reducing the import bill, the spokesman said.
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