Oil exports hit 4 billion dollars

Egyptian oil exports hit dlrs 4.17 million in 2003-2004 compared to dlrs 3.43 million in 1981-1982, a report has said.

The total Egyptian oil and natural gas output hit 58.5 million tons in 2003-2004 compared to 36.7 million tons in 1981-1982, the report issued by the Cabinet Information and Decision Support Center added.

Oil and natural gas reserves increased to 15.2 billion barrels compared to 4.1 billion in 1981-1982.

Natural gas industry has witnessed a remarkable expansion over last few years with the new investment projects in northern Delta city of Rosetta to export liquefied gas to European markets.

The value of industrial exports went up to dlrs 8.4 billion in the same perioed compared to dlrs 5.0 in 1981.