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BP plans $1.5bn investments in Egypt

: Tuesday, May 13 - 2014 @ 10:12

Egypt has said British Petroleum (BP) is planning to invest $1.5bn in 2014 to increase its production of natural gas in Egypt, which has been hit by an energy crisis following three years of political turmoil, Reuters has reported. BP representatives were not immediately available for comment. Egypt needs to import liquefied natural gas (LNG) for power generation to make up for shortfalls as domestic gas production declines, a sensitive issue awaiting the new president, who is due to be elected in a national vote on May 26-27.

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Tuesday, May 13- 2014 @ 10:12 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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