Egyptian Commercial Bank finances $100 million LPG import
The Egyptian Commercial Bank (ECB) recently announced that it will finance a $100 million import transaction of Liquefied Petroleum Gas (LPG) for the Egyptian General Petroleum Corporation (EGPC). The corporation will receive 500,000 metric tons of LPG over the course of one year, reported Al-Alam Al-Yaum.
Established in 1962, the EGPC controls the oil industry in Egypt. It is active in the upstream, downstream and petrochemical sectors. The EGPC has full responsibility for all sectors of the Egyptian petroleum industry and holds the sole right to import and export crude oil and other petroleum products. — (menareport.com)
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