Wednesday , April 21 2021

Global agencies Minister of Petroleum announces an increase in gasoline consumption 95 by 500%

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Minister for Oil and Minerals Tariq Al-Mulla announced the increase in fuel consumption by 95% in the recent period, especially after the introduction of modified gasoline in a number of gas stations, and noted that petrol production at the Egyptian gas stations under the name "Extra 95, as well as the cooperation station under the name «Primem 95».

The minister said during a press conference announcing the launch of the operations at the 15th Arab International Mineral Resource Conference from 26 to 28 November in Cairo on Sunday as modified gasoline helps improve engine performance and reduce fuel consumption, with the same frequency of gasoline consumption.

At "Gasoline 87", "Mullah": which "is still under study and has not yet been set date for launch on the markets", points out that work is under way to change the mineral wealth law to be attractive to foreign investment.

He added that "since the issue of the final law on mineral wealth in 2014 did not contribute to attracting foreign investment and received many objections," and added that the law would provide incentives to investors as well as ensure the achievement of economic returns to the state.

He pointed out that a consultancy office was used to analyze the current situation regarding the mineral resource sector in Egypt. He pointed out that recommendations have been made, including the reform of the current legislation, and therefore changes in the current law have been made to be more flexible and appropriate to attract new investment in the sector.

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