Source: Oil steps to increase oil and gas production effectively and successfully

Economy and stock exchange

An official source in the oil sector said that the steps taken by the Ministry of Petroleum and Mineral Resources to increase the production of crude oil and natural gas and reduce the consumption rates in the local market are being implemented effectively and in need.

The source added, in special statements for the "seventh day", that there are tangible results of these plans, evidenced by the report of the Central Agency for Public Mobilization and Statistics to reach the volume of Egypt's production of oil and natural gas to 6.508 million tons during the month of February, compared with a production of 5.745 Million tons of oil and natural gas during the same month of 2018.

The source also explained the success of this plan to the Ministry of Petroleum, to the statements of the General Petroleum Corporation during the meeting of the Committee on Energy and Budget in the House of Representatives to approve the draft budget for the oil sector for fiscal year 2019/2020, where the Commission noted that there is a boom in natural gas exported to abroad, It is expected that during the year 2019/2020 will reach 12 million tons worth 2 billion dollars (36 billion pounds) compared to 4 million tons worth 589 million dollars (10 billion pounds) in the budget of the previous fiscal year 2018/2019.

(t) Oil (t) Plan to increase production (t) Petroleum products (t) Report of the Central Agency for Public Mobilization and Statistics (t) Economy (t) Economy