OiLibya: Investments in Egypt Ongoing, to pump more in 2015

Libyan petroleum dealer OiLibya’s investments in Egypt will not be negatively affected by the current political events, managing direct Saleh Abdali said.

Tensions have been erupted between the two countries following the killing of 21 Egyptian Copts in Libya by Islamic State and the start of Egyptian airstrikes against IS targets.

Abdali described that the Egyptian market as ‘promising’ amid the recent economic reforms taken there.

Hence, OiLibya is planning to pump more investments into the Egyptian market within the current year, Abdali noted. In Egypt, the Libyan firm intends to establish 10 new gas stations, renew 5 more in addition to inaugurate a number of new services centres in various Egyptian governorates, he added.

Moreover, Abdali concluded by saying Oilibya is committed to all its contracts with the Egyptian companies for importing oils.