{"id":322515,"date":"2021-06-30T12:20:34","date_gmt":"2021-06-30T12:20:34","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322515"},"modified":"2021-06-30T12:20:34","modified_gmt":"2021-06-30T12:20:34","slug":"egypts-petroleum-sector-attracts-6bn-fdi-in-2020","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/06\/30\/egypts-petroleum-sector-attracts-6bn-fdi-in-2020\/","title":{"rendered":"Egypt’s petroleum sector attracts $6bn FDI in 2020"},"content":{"rendered":"

Egypt’s petroleum sector attracted $6 billion worth of foreign direct investment (FDI) during 2020 despite the challenges posed by the coronavirus (COVID-19) pandemic, Minister of Petroleum and Mineral Resources Tarek El-Molla said.<\/p>\n

The sector is advancing in implementing digital technologies with the launch of\u00a0Egypt Upstream Gateway (EUG) which\u00a0includes all data related to the petroleum sector as well as the upcoming tenders, El-Molla added in a statement on Tuesday.<\/p>\n

On a side note, the minister said that the country implemented several steps to upgrade\u00a0the sector’s infrastructure by raising the capacity of storage warehouses by 45%, increasing the establishment of pipelines by 90%, and boosting the capacity of ports by 85%.<\/p>\n

The number of refuelling stations increased by 20% and the number of compressed natural gas (CNG) refuelling stations reached 351.<\/p>\n

The number of vehicles converted to run on dual-fuel engines amounted to about\u00a0368,000, including around 42,000 cars during fiscal year (FY) 2019\/2020.<\/p>\n

<\/div>\n

It is planned to add another 400,000 cars by converting 150,000 cars and replacing\u00a0250,000 ones in three years, along with increasing the number of CNG refuelling stations.<\/p>\n

The number of households with access to natural gas registered 12.5 million, of which 51% were connected during 34 years and the remaining 49% during the last seven years.<\/p>\n

As part of the Hayah Karima initiative, the number of households connected to the natural gas grid is planned to be increased to 19 million.<\/p>\n

Since 2014, the ministry signed 99 agreements for oil and gas exploration with minimum investments of $17 billion.<\/p>\n

The sector also reached an all-time high production of 1.9 million barrels of equivalent oil during 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt’s petroleum sector attracted $6 billion worth of foreign direct investment (FDI) during 2020 despite the challenges posed by the coronavirus (COVID-19) pandemic, Minister of Petroleum and Mineral Resources Tarek El-Molla said.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":319706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,33],"tags":[],"class_list":["post-322515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-invest","category-main"],"yoast_head":"\nEgypt's petroleum sector attracts $6bn FDI in 2020 - egy-africa<\/title>\n<meta name=\"description\" content=\"Egypt's petroleum sector attracted $6 billion worth of foreign direct investment (FDI) during 2020 despite the challenges posed by the coronavirus (COVID-19) pandemic, Minister of Petroleum and Mineral Resources Tarek El-Molla said.\u00a0FD\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/06\/30\/egypts-petroleum-sector-attracts-6bn-fdi-in-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt's petroleum sector attracts $6bn FDI in 2020 - egy-africa\" \/>\n<meta property=\"og:description\" content=\"Egypt's petroleum sector attracted $6 billion worth of foreign direct investment (FDI) during 2020 despite the challenges posed by the coronavirus (COVID-19) pandemic, Minister of Petroleum and Mineral Resources Tarek El-Molla said.\u00a0FD\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2021\/06\/30\/egypts-petroleum-sector-attracts-6bn-fdi-in-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-30T12:20:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/pexels-zukiman-mohamad-87236-716x477-1.jpg?fit=750%2C430&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2021\/06\/30\/egypts-petroleum-sector-attracts-6bn-fdi-in-2020\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2021\/06\/30\/egypts-petroleum-sector-attracts-6bn-fdi-in-2020\/\",\"name\":\"Egypt's petroleum sector attracts $6bn FDI in 2020 - 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