Belarus, Egypt discuss bilateral cooperation in oil field

Egypt’s Minister of Petroleum Tarek el-Molla discussed with Belarus Ambassador to Cairo, Sergei Rachkov, means of cooperation between the two countries in the oil and mineral wealth field and opportunities of exchanging experiences and taking advantage of Belarus’ expertise and developed capabilities in the field.

The minister highlighted the importance of strengthening economic cooperation between Egypt and Belarus, which has seen a significant development in the recent period, stressing that cooperation in the mining and oil field is a fundamental pillar to open new horizons in the relations between the two countries, a statement issued Friday by the ministry said.

The oil and mining field also offers both countries a chance to develop economic relations in light of the attractive investment climate in the petroleum and mining industry in Egypt, according to the statement.

The ambassador of Belarus pointed out that Egypt has a significant chance to benefit from the outstanding expertise and modern technologies possessed by his country in the  field of oil, gas, and mineral wealth exploration, including geological surveys technology.

The meeting discussed the use of advanced technology and modern equipment of Belarus in the excavations for phosphates, gold, and various mineral resources, especially with the growing mining activity in Egypt, the ambassador added.

National oil firm Saudi Aramco informed Egyptian authorities that it would halt shipments of petroleum products to Egypt “until further notice”, an Egyptian official told Reuters on Monday.

Aramco has not commented on the halt. Disagreements between the two governments about regional politics may be the cause; also, after years of low oil prices Saudi Arabia itself is no longer as rich as it was, making it more difficult to be generous with its allies.

Source: Reuters