Egypt's Ambitious Oil and Gas Plans

Oil-rich Egypt has big plans for the future of its fossil fuel development with several major new auctions and investments planned for the North African country. A new $7 billion petrochemical complex and other major oil and gas investments are expected to reinvigorate Egypt’s oil industry, although it may have to win back investor confidence following a disappointing financial year. Egypt is a major African fossil fuel producer, the second-largest non-OPEC producer of liquid fuels after Angola. It was also the second-largest producer of…