Egypt’s Prime Minister Reviews Petroleum Stockpiles and Partner Payments
Egyptian Prime Minister Mostafa Madbouly held meetings with Central Bank Governor Hassan Abdalla and Petroleum Minister Karim Badawi to review efforts ensuring petroleum product availability and the status of arrears owed to foreign partners in the petroleum sector.
Madbouly commended the close coordination between government and the Central Bank in securing financial allocations to maintain strategic petroleum stockpiles. The discussions focused on the banking sector’s role in mobilizing foreign currency resources required to meet petroleum demands while addressing the needs of electricity and industrial sectors.
The meeting also covered petroleum exploration plans, updates on international oil and gas company operations in Egypt, and schedules for settling arrears to foreign partners. The Prime Minister instructed that efforts be intensified to ensure timely payments while continuing to attract new investments.
Source: egyptoil-gas.com
