Egypt - China boost cooperation in oil domain
Egypt-China, Economics, 2/17/2001

Chairman of Chinese National Oil Company, the biggest oil company in China, hailed as excellent cooperation between Egypt and China in the field of petroleum.

This came during talks held by Egypt's ambassador to China Mohammad Noaman Galal and President of the Chinese company.

The Egyptian-Chinese talks dealt with aspects of cooperation between the two countries in light of the meeting held last December between President Hosni Mubarak and Chinese Deputy Prime Minister Wu Bangguo.

The ambassador told the chairman of the Chinese company that Egypt was keen on developing cooperation with China in oil domains.

The ambassador briefed him on a list of new investment projects to be implemented by the Egyptian Ministry of Petroleum.

The Chinese official called for studying the Egyptian projects and delegating a Chinese oil team to Egypt for more consultations.

The Chinese company produces 100 million tons of oil and its derivatives annually.

The mounting Chinese demand for oil led to an increase in imports of Egyptian oil which was reflected on trade balance between the two countries.

The Egyptian oil exports to China increased 200 percent from $ 34 million in 1999 to $102 million last year.

Previous Stories:
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  600 million dollars is volume of the Egyptian - Chinese trade   (5/12/2000)

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