The Organization of Petroleum Exporting Countries (OPEC) has given Egypt observer status with the organization, said Minister of Petroleum Sameh Fahmi.
Egypt now joins Oman, Mexico and Russia as an observer, he said, cited by the weekly Middle East Times.
"Egypt's participation in the meetings will allow it to closely coordinate with the member states and producers for reaching fair prices," said Fahmi in statement, cited by the weekly.
Among other resources, Egypt boasts significant natural gas reserves off its Mediterranean coast – Albawaba.com
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