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Youm7: Current political events will not affect petroleum investments

Mahmoud Nazeem, said the international petroleum companies working in Egyptian markets are keen to increase their investments in Egypt.
17.09.11 | Interesting article at Youm7

The Secretary of the Ministry of Petroleum, Mahmoud Nazeem, said the international petroleum companies working in Egyptian markets are keen to increase their investments in Egypt despite the current political events in Egypt.

He added the current trials of the figures of the former regime did not affect the performance of these companies. He clarified the situation in Egypt is better than in the other neighboring countries.

Nazeem said the recent violence did not affect projects the companies intend to execute in Egypt. He clarified these companies will continue execution of their projects and investments in Egypt.

He said these companies are keen to resume their investments and plans with petroleum, expressing their confidence in Egypt's economy and their confidence in Egypt's natural gas reserves.

The head of the petroleum pipelines company, Alaa Abdel-Latif, said the company exerts effort into providing and transferring petroleum products despite the political conditions in Egypt.

"We work to meet the increasing demand of petroleum products by operating and protecting the pipeline for the entire day. He said the company has a huge network of petroleum pipelines spread throughout Egypt,” Abdel-Latif said.