El-Sisi directs regular payment of dues to petroleum contractors
Updated 1/5/2025 9:50:00 AM
Arab Finance: President Abdel Fattah El-Sisi directed the government on the necessity of regularly paying financial dues to companies contracting with the state in the oil and natural gas sector, according to an official statement.
The president’s remarks came during a meeting with Prime Minister Mostafa Madbouly, the Governor of the Central Bank of Egypt (CBE) Hassan Abdalla, Minister of Finance Ahmed Kouchouk, and Minister of Petroleum and Mineral Resources Karim Badawi.
On his part, Mohamed El-Shennawy, Spokesman for the Presidency, said the meeting discussed the government's efforts to secure the country’s needs for petroleum products.
It also addressed providing the necessary funds to maintain efficient operations in the petroleum sector, while reviewing plans to increase local production of oil and gas resources.
Moreover, El-Sisi emphasized the importance of developing newly discovered wells and including them in the production plan. This is in addition to reinforcing exploration activities in Egypt's onshore and offshore areas.
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