Egypt seeks to boost petroleum exports by 15% in 2023
Updated 6/11/2023 10:03:00 AM
Arab Finance: Egypt is planning to boost its petroleum exports by 15% in 2023 to around $21 billion, Asharq Business reported on June 11th, citing a state document.
Moreover, the government is aiming to bring its oil exports to about $24 billion in 2024, according to the document.
The government document also revealed that the state is seeking to achieve an annual surplus of up to $3 billion in the oil balance.
Additionally, it showed that Egypt is mulling over the establishment of a new liquefaction plant as well as pipelines to boost the capacity of refineries and increase the country’s exports of liquefied natural gas (LNG) within the coming two years.
It is noteworthy that Egypt’s total production of natural gas currently amounts to 6.5 to 7 billion cubic feet per day.
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