Cairo – Egypt has allocated EGP 30 billion to develop public oil companies, as part of the fiscal year (FY) 2022/2023 budget, the Minister of Petroleum and Mineral Resources, Tarek El-Molla, stated.

El-Molla said that the Ministry seeks to raise efficiencies of the petroleum sector's projects, particularly in the refining industry, and accelerate the digital transformation.

This announcement was made during the general assemblies of public-sector oil companies to adopt planning budgets for FY22/23.

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.