Reshuffle at EGPC and EGAS reflects Cairo’s caution21 March 2017
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 Petroleum, will take over from Mohamed al-Masry as EGAS’s chairman, according to a 14 March statement from the petroleum ministry.
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