Gulf Oil and Gas accountACCOUNT

Bolstering Cooperation with Arab International Bank

Source: www.gulfoilandgas.com 1/12/2011, Location: Africa

Eng. Sameh Fahmy, Minister of Petroleum, received Dr. Atef Ebeid, Chairman of Arab International Bank (AIB), on top of an official delegation, comprising the Bank's Vice Chairman, Credit General Manager, and the Bank's Board member, concerned with the petroleum investments in the UAE.

During the meeting, they discussed the possibility of creating joint investments between Egypt and the UAE in the domain of manufacturing oil equipment, aiming at serving oil and gas activities and increasing the value-added as well, contributing to supporting and enlarging the outstanding Egyptian-Emirati partnership in numerous domains of oil and gas industry during the last period and that incarnate the successful joint Arab economic cooperation.

Moreover, during the meeting, the Petroleum Minister discussed the cooperation between the Petroleum Sector and the Arab International Bank in the field of financing investment projects of oil, gas and petrochemicals. Thatís in light of the attractive investment opportunities existing in the Petroleum Sector, the high profitability and economic feasibility of the projects, as well as the transparency within the Sector, which represent a key factor for attracting Arab financing institutions to the Egyptian Petroleum Sector projects.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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