August 9, 2024
1 min read

UAE, Egypt boost petroleum, investment cooperation   

The MoU aims to take advantage from the integrated system in the Fujairah Oil Industry Zone and apply it to Egypt’s Al Hamra Petroleum Port on the Mediterranean coast…reports Asian Lite News

The emirate of Fujairah and the Egyptian government have signed a cooperation agreement in the form of a Memorandum of Understanding (MoU) in the petroleum field.

The signing ceremony took place at the government headquarters in the new Alamein city, in the presence of Egypt’s Prime Minister, Dr Mostafa Madbouly, and Karim Badawi, Egyptian Minister of Petroleum and Mineral Resources.

The MoU aims to take advantage from the integrated system in the Fujairah Oil Industry Zone and apply it to Egypt’s Al Hamra Petroleum Port on the Mediterranean coast.

Mohammed Saeed Al Dhanhani, Director of the Fujairah Emiri Court, and Mahmoud Nagi, Deputy Minister of Petroleum and Mineral Resources for Transportation and Marketing, signed the MoU.

Al Dhanhani emphasised the importance of cooperation between the two countries and building on the successes already achieved in the fields of storage, petroleum trading, and ship supply.

He stressed that the MoU within the framework of the fruitful cooperation between the UAE and Egypt, under the directives of the wise leadership in both fraternal countries.

He indicated that the MoU was issued under the directives of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, and the support of H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, to provide the best capabilities and expertise that Fujairah has achieved in the field of petroleum trade.

A joint Egypt-UAE team has been formed to follow up the implementation of the deal and remove any obstacles to put into effect.

ALSO READ-UAE-China Summit announced during ADGM’s China Roadshow

Previous Story

Musk shares fake news on punishment for rioters

Next Story

Dubai’s summer experiences offer maximum value

Latest from -Top News

AU Backs New UN Libya Roadmap

The Roadmap seeks to resolve the Libyan crisis through a political process centred on institutional unification…reports Asian Lite News The Chairperson of the African Union Commission (AUC), H.E. Mahmoud Ali Youssouf, has

Sudan Feels Impact of GERD

The GERD project remains a point of contention among Nile Basin countries….reports Asian Lite News Water levels in Sudan’s Blue Nile have fallen to record lows following Ethiopia’s announcement that it has

UNESCO sounds alarm on teacher gap

Amina Mohammed proposed a five-point plan to strengthen the profession through greater investment, gender equality, support for digital learning…reports Asian Lite News At the UNESCO World Summit on Teachers in Santiago, Chile,

Modi Ends China Trip, US Hails India Ties

US termed India-US ties as a “defining relationship of the 21st century”, stating that partnership between both countries continues to reach new heights….reports Asian Lite News Shortly after videos and images of
Go toTop

Don't Miss

UAE In For Gaza

His Highness met with volunteers at the centre and commended

e& forays into metaverse

“Based on the limitless possibilities that are available in metaverse