Gov’t entities debt to oil ministry hits EGP 139bn

Cairo – Mubasher: The state-run entities' debt owed to the petroleum ministry rose by EGP 42.8 billion, recording EGP 139 billion in September from EGP 96.2 billion in the same month a year earlier.

Egypt is aiming at halting natural gas imports next October, petroleum minister Tarek El-Molla told local newspaper Almal.

Importing gas shipments contracted over the past period as liquefied natural gas (LNG) cargoes reached 76 during fiscal year 2017/2018, compared to around 118 in FY16/17, the minister added.

Moreover, El-Molla unveiled eight oil and gas exploration deals to be signed over the coming period, pointing out that the ministry has signed 61 agreements since 2014 with nearly $14 billion in investments.

Mubasher Contribution Time: 04-Sep-2018 09:04 (GMT)
Mubasher Last Update Time: 04-Sep-2018 10:34 (GMT)