British Petroleum to invest 3.5 bln USD in Egypt in 3 years

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British Petroleum to invest 3.5 bln USD in Egypt in 3 years

STORY: British Petroleum to invest 3.5 bln USD in Egypt in 3 years DATELINE: Aug. 29, 2023 LENGTH: 00:00:48 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the headquarters of Egyptian presidency 2. various of the meeting between Egyptian President Abdel-Fattah al-Sisi and BP's CEO Bernard Looney (courtesy of Egyptian presidency) STORYLINE: The energy giant British Petroleum (BP) will invest 3.5 billion U.S. dollars in Egypt along with its partners in the next three years, the Egyptian presidency said in a statement on Monday. The announcement came after a meeting between Egyptian President Abdel-Fattah al-Sisi and BP's CEO Bernard Looney. Looney said the investments would cover areas of research, exploration, and development. The Egyptian president hailed the British company's expanding operations and investments in Egypt as well as its contribution to the exploration and production of gas and oil. "These efforts boost the oil sector and endeavor to transform Egypt into a regional hub for oi

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