The Egyptian House of Representatives approved the bill allowing Oil Minister Tariq al-Mulla to enter into an oil exploration and production contract with the Egyptian General Petroleum Corporation and Lukoil Overseas. This was reported by the Al-Youm as-Sabia portal.
Ahmed al-Awadi, chairman of the parliamentary defense committee, said the agreement would be implemented in the desert in the east of the country as part of Egypt’s development strategy for the oil and gas industry.
Experts believe that the parliament’s decision will expand Russia’s presence in Egypt’s oil and gas sector. Lukoil had previously implemented many projects in this country together with the state-owned Egyptian General Petroleum Corporation.
At the beginning of December, it became known that Lukoil may begin to review the working conditions of its enterprises in Bulgaria, including the possible sale of the enterprise. Also in the company highlightedIt is stated that “an artificially fueled political storm around a business” that fulfills all its obligations to the state and employees and is not subject to sanctions is damaging the investment environment in Bulgaria.
Previously in Bulgaria due to plans to leave the Lukoil plant without Russian oil gathered The country’s Security Council meeting.