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Egypt's oil minister says foreign investments down 26% to $5.4 bln in 2020-21

10/17/2021 | 08:43am EST

CAIRO, Oct 17 (Reuters) - Egypt's oil minister said on Sunday that foreign investments in the sector fell 26.02% to $5.4 billion in the financial year 2020-21, versus $7.3 billion a year earlier.

"The coronavirus crisis led to a slowdown in investments from international oil companies worldwide," Tarek El Molla said in a speech to the Egyptian Petroleum Association. (Reporting by Ahmed Ismail; Writing by Ahmad Elhamy; Editing by Jan Harvey)


© Reuters 2021
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