Egypt's PM, US secretary of energy mull cooperation in energy, electricity    Egypt's PM meets US vice president Pence    IMF downgrades global economic growth forecast to 3%, lowest level since 2008    We hope to strengthen ties with Egypt: Albanian president    Moroccan film Nomades scoops awards in Alexandria Film Festival    Egyptian Arab Land Bank to up funding into nonbanking financial firms    Turkey says its forces holding part of Syrian NE    Bulgarian PM urges soccer chief to resign after racism furore    England made a big statement against racist abuse, says Southgate    Dutchman Vorm returns to Tottenham as goalkeeping cover    Clashes over Catalan separatists' convictions injure 170    British police order a halt to climate change protests in London    Brexit deal ‘more and more difficult' this week, EU summit to discuss delay    Sisi congratulates Tunisia's new president for win, hopes for more cooperation    Dollar loses steam versus yen as trade deal, Brexit hopes face reality check    Oil falls as weak China data compounds partial trade deal doubts    Egypt's comprehensive health insurance system doesn't set spending cap on services: Finance minister    Toshiba's JV with Egyptian Elaraby opens regional HQ in South Africa    Six authors vie for Booker prize 2019, Atwood in the lead    In Photos: A sneak peek into rehearsals for the Cleopatra ballet world premiere    Saudi visit showcases Putin's growing Middle East influence: Reuters report    Trump prepares to impose sanctions on Turkey    Egypt spares no effort to boost cooperation with Sudan: Egyptian ambassador to Khartoum    Sisi, Ethiopia's PM to meet in Moscow to discuss GERD issue    Sisi: army engaged in attrition phase against terrorism in Sinai since 2013    Egypt's Sisi, Ethiopian PM to meet in Moscow to discuss GERD issue    'Alarming upsurge' in measles has devastating impact, WHO warns    Vitamins, omega-3 supplements improve autism symptoms    10K fans to attend Egypt's friendly against Botswana in Alexandria: EFA    Sisi, Ethiopia's PM agree to overcome obstacles in Nile dam talks    Why vacations are important for health    A brief history of the Cairo Opera House    Egypt's Zamalek president hopes 80,000 supporters attend Generation Foot match    Farwell to Egyptian comic actor Talaat Zakaria    Eating fish is linked to better sleep, higher IQ    Egypt's Rowad Modern Engineering renovates 40% of Manial Palace    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Oil minister Molla holds talks with US assistant secretary of state
Published in Ahram Online on 12 - 03 - 2019

Petroleum Minister Tarek El-Molla had talks with Francis R. Fannon, the Assistant Secretary for the Bureau of Energy Resources (ENR) at the US Department of State, on means of promoting bilateral cooperation in the petroleum and natural gas scores.
The meeting took place on the fringe of the CERAWeek - the World's Premier Energy Event - in the US.
In a statement on Tuesday, Molla said Egypt has taken steps to become a regional energy hub, adding that this would offer great investment opportunities.
Meanwhile, Fannon hailed the achievements Egypt has reached in the field of oil and natural gas industry, adding that this would incentivize US companies to boost investments in Egypt.
He highlighted the key role played by Egypt in developing natural gas resources in Eastern Mediterranean region through implementing mega projects in this field.
Molla attended a plenary meeting of the American Chamber of Commerce and Apache company.
During the meeting, Mulla spelled out the ministry's strategy to improve the investment climate and realize sustainable development goals.
Molla noted that the ministry launched the first tender in the field of oil and natural gas exploration in the Red Sea area in view of the international companies' interest in pumping investments in the area.
Molla expounded the achievements realized over the past period, making the oil and natural gas sector one of the largest contributors to economic development in Egypt.
He said the sector contributes by about 25 percent to the gross domestic product and 44 percent to foreign direct investments.
Molla also held a meeting with Apache CEO John J Christmann and the company's leaderships on the company's action program in oil and gas exploration in the Western Desert.
The talks also tackled means of boosting the company's investments in Egypt.
Molla and Christmann underlined that up-to-date technology would be used to step up oil and natural gas exploration in order to up the oil output.
Molla also held a meeting with OPEC Secretary General Mohammed Barkindo and UAE Energy Minister Suhail Al Mazroui on a host of issues of mutual concern, topped by the latest developments in international oil markets.

Clic here to read the story from its source.