Egypt Public Oil Firms have to cut Expenses by 15%; Minister says

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Public sector petroleum companies in Egypt have to lower their expenses by 15% during the upcoming period, such call was raised by oil minister Sherif Ismail on Sunday.
This reduction should not affect the type and quality of the work, the official said.
During the general meeting headed by the Egyptian minister, Ismail asked the public sector companies; Petrogas, Amreya Petroleum Refining Co (APRC), Alexandria Petroleum Company and Egyptian Petrochemicals Company- to ratify their budgeting for fiscal year 2015-16.

He also recommended the companies to prepare a general evaluation, comprehensive review of industrial security and occupational safety to protect workers and productive assets, check refineries pipelines connection and oil warehouse to eventually set an inclusive study about infrastructure’s capacity.

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