Egypt petroleum minister says hike in oil prices negatively affecting country: Report

The big hike in oil prices is negatively affecting Egypt, its petroleum minister Tarek el-Molla was reported as saying by Sky News Arabia on Sunday.

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“The whole world is harmed by the current oil prices, we hope these prices will not last for a long period... We hope gas exports compensate for part of the cost of importing oil and petroleum products,” he was quoted as saying by the TV channel.

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