Egypt spends over $ 1.5bn/month in providing petroleum products locally -minister

CAIRO, 24 Oct. - (ANA)  - Egypt spends more than $1.5 billion per month in providing petroleum products to the local market, Petroleum Minister Tarek El Molla said on Tuesday, a bill that covers both imports and the share of foreign oil companies.

Egypt now spends $700 million-$800 million buying the foreign companies’ share in local joint venture oil production due to the rise in global oil prices, Molla told reporters.  - (ANA) -

AB/ANA/ 24 October 2018 - - -