Reshuffle at EGPC and EGAS reflects Cairo’s caution

A series of management changes at Egypt’s NOCs reveals a strategy to stop individuals from gaining too much influence, analysts say A series of management changes at Egypt’s NOCs reveals a strategy to stop individuals from gaining too much influence, analysts say.
By Doaa Farid 21 March 2017 0 25135
Egypt’s Western Desert. Outgoing EGPC chairman Tarek al-Hadidi awarded blocks there during his tenure. (Apache)

The latest management reshuffle at Egypt’s two major state-controlled oil and gas companies shows Egyptian Minister of Petroleum Tarek el-Molla is trying to prevent any one individual from developing a stranglehold over the businesses, local experts have told Interfax Natural Gas Daily.

Molla appointed new heads of Egyptian General Petroleum Corp. (EGPC) and Egyptian Natural Gas Holding Co. (EGAS) last week. Abed Ezz el-Regal, the former deputy chairman of EGAS, will replace Tarek al-Hadidi as chairman of EGPC, while Osama el-Bakly, the former head of Agiba...

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