Arab Finance: Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, confirmed…n Growth of the extractives sector Which includes crude oil, petroleum, and gas, decreased by 6.4% during the fourth quarter of the fiscal year 2023/2024.
During the weekly press conference held at the government headquarters in the Administrative Capital, Al-Mashat indicated a decline in the production of oil and natural gas wells, as a result of the decline in foreign investments directed to new discoveries.
The Minister of Planning said that this affected oil refining activity, which had a negative impact on the net balance of petroleum exports.
She pointed out that the extraction sector is witnessing improvement with the payment of foreign companies’ dues, explaining that the sector represents 7% of the gross domestic product.
Related news
