El-Molla endorses budgets of three Egyptian oil firms for 2017/18

Egyptian Petroleum Minister Tarek El -Molla endorsed Thursday the planning budgets of three oil firms for financial year 2017/18.

The minister headed the meeting of general assemblies of Misr Petroleum Company,  Co-operation Petroleum Company, and Petroleum Pipelines Company (PPC).

The meeting was attended by state’s Local Development Minister Ahmed Zaki Badr,  Executive Chairman of The Egyptian General Petroleum Corporation (EGPC), and other officials.

During the meeting, El-Molla asserted that developing the system of promoting and distributing petroleum products is the major axe in government’s plan that targets improving services provided to citizens.

Egyptian oil sector is fully committed to secure local market’s needs of petroleum products so as to cover needs of economic and social developmental plans, the minister added.

On other side, the national network of transporting petroleum products witnesses a large number of projects to establish new pipelines in order to link production and distribution areas with storage and consumption areas, El-Molla clarified.