Wednesday, March 15, 2017

Egypt replaces heads of state oil and gas companies - REUTERS

Wed Mar 15, 2017 8:45am GMTWriting by Amina Ismail; Editing by Ruth Pitchford
CAIRO (Reuters) - Egyptian Oil Minister Tarek al-Molla has replaced the heads of state oil company EGPC and state gas company EGAS, the Ministry of Petroleum said in a statement on Tuesday.

Abed Ezz el-Regal will replace Tarek al-Hadidi, appointed in April 2016, as head of EGPC while Osama Al Bakly will take over from Mohamed al-Masry as head of EGAS.
Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption. It is trying to speed up production at recent discoveries.