ExxonMobil Considers Investing in Marketing, Distributing Petroleum Products in Egypt

Minister of Petroleum Tarek El-Molla discussed with Loic Vivier , Vice President of the American company "ExxonMobil" for refining and marketing of petroleum products, investment opportunities in the areas of marketing and distribution of petroleum products, chemicals and oils in the local market.

The minister of petroleum explained that the measures stimulating investment in the oil and gas sector in recent years attracted ExxonMobil investments to search for natural gas for the first time since its history of operation in Egypt, as the company is investing in two areas to search for gas in the Mediterranean Sea, in which work will begin early in the new year.

El-Molla added that the Egyptian market is attractive to local, Arab and international companies in the field of marketing petroleum products, noting that the diversity of investments and partners in this market enriches competition for the benefit of the Egyptian consumer and users of fuel, chemicals and oils.

On his part, the Vice President of ExxonMobil pointed out the company’s interest in being present and promoting investment in Egypt in this field, as Egypt is a large market with diversity and possibilities for expansion, and the successful partnership and continuous development of the investment climate motivates the company to make more contributions to this market.

The ExxonMobil partnership is considered the largest company in the world in the fields of marketing petroleum products, oils, chemicals, and searching for oil and gas, and one of the oldest leading companies in marketing petroleum products and oils in the Egyptian market, whose activity extends for about 120 years.