Gulf Oil and Gas accountACCOUNT

Civil Aviation & Petroleum Ministries Cooperation

Source: www.gulfoilandgas.com 12/10/2013, Location: Africa

According to the efforts of Mr. Abdul Aziz Fadel, Minister of Civil Aviation, to ease the burden of Private Aviation companies, and after the negotiations with Eng Sherif Ismail, Petroleum Minister, the petroleum companies accepted to make the special Egyptian companies to pay the price of fuel in Egyptian pounds starting from 1st January 2014 and for a period of three months.

The Civil Aviation minister had a meeting with chief executive officers and the representatives of the Private Egyptian companies on 27 October, 2013 to discuss the current situation of their Inability to bear the losses.

In that meeting, the Private Egyptian companies requested the petroleum ministry to accept payment of the price of fuel in Egyptian pounds instead of US Dollars, and the minister had promised to discuss this demand with the petroleum minister.

the petroleum minister said yesterday “ although the additional burdens of the Petroleum General Authority due to importing large amounts of petroleum products in foreign currency, we take into account the exceptional circumstances emphasized by the Minister of Aviation and experienced by private airlines at the moment. "

Finally, Mr.Fadel thanked the petroleum minister for his understanding of the current status of the Egyptian companies, and stressed that this step reflects the full cooperation between the various ministries for the benefit of the investors and citizens.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Financials and Investment News in Egypt >>

United States >>  12/4/2019 - Byron Energy has signed a binding Secured Promissory Note with Crimson Midstream Operating, a portfolio company of The Carlyle Group, to borrow an ini...
United Kingdom >>  12/2/2019 - UK Oil & Gas PLC has raised £2 million ("Proceeds") from a single institutional investor through a placing ("Placing") of 235,294,117 new ordinary sha...

United States >>  12/2/2019 - McDermott International, Inc. has been granted access to the second tranche ("Tranche B") of the $1.7 billion superpriority senior secured credit faci...
United Kingdom >>  11/29/2019 - Gulfsands Petroleum plc, the oil and gas company focused on the Middle East region, is pleased to announce that at its General Meeting (“AGM”) held ye...

Brazil >>  11/28/2019 - Petrobras informs that its Board of Directors approved, in a meeting held yesterday, the Strategic Plan for the 2020-2024 five-year period, in line wi...
Norway >>  11/27/2019 - Reference is made to the announcement on 19 November 2019 regarding a contemplated bond issue by OKEA ASA (the “Company”). The Company is pleased to a...

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

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


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.