Egypt’s Petroleum Minister Flies to Saudi Arabia to Review Country’s Needs in 2014

Eng. Sharif Ismail, Minister of Petroleum and Mineral Resources has flied to Riyadh- Saudi Arabia for two days to meet with a numbers of officials in order to support the Egyptian energy within the coming period.

During the visit the Minister will review the supporting of Saudi Arabia to the Egyptian energy after requesting from them to provide new funding for fuel imports during the current year, where the imports of Petroleum Authority up around US$ 3.1 billion per month from various petroleum products that offer in the  domestic market at subsidized prices.

In the past year Saudi Arabia, Kuwait and UAE provided petroleum aids to Egypt worth US$3 billion.

Dr. Ziad Ahmed Bahaa Eddin – Deputy Prime Minister for Economic Affairs and Minister of International Cooperation stated that the government is negotiating with the Arab countries in order to provide the petroleum needs of  Egypt.

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