Petroleum Sector Contributes 24% to Egypt's GDP

published:14/04/2021 07:19 GMT

Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, said that the legal and legislative reforms carried out since 2014 have managed to rebalance and stabilize the sector amid the challenges that impacted investments since 2011. More than 60 international companies are currently operating in the oil and gas sector in Egypt, El-Molla added in a statement on Tuesday. In 2020, the petroleum sector contributed about 24% to the country’s gross domestic product (GDP). In 2018,...More