The Clap:
The Egyptian Cabinet announced its approval of five projects for petroleum commitment agreements with the Egyptian Natural Gas Holding Company and other players with an anticipated investment of approximately USD 200 million. The deals involve gas and oil exploration undertakings in the Mediterranean, Nile Delta, and Western Desert regions.
So What
These deals are anticipated to help Egypt in boosting its oil and gas reserves. Remember, shortages in gas supplies forced multiple fertilizer production firms to halt production for the second time last month.
