Minister of Oil Tarek Al Mulla said on Wednesday 19/1/2022 that the new budget of Assiut oil refining company and the oil pipelines company would hit seven billion pounds.

These funds are allocated to upgrade the efficiency of the production system through providing modern equipment, he added during a meeting of the general assembly of the two companies.

Also, the new budget is allocated to complete the digitization process as part of upgrading and modernizing the oil sector in Egypt, he added.

Source: State Information Service Egypt