Egypt Plans To Boost Oil Production To 690,000 Bpd By Year-End

Egypt is looking to boost its crude oil and condensate production to 690,000 bpd by the end of the year from the current 630,000 bpd, Egyptian Petroleum Minister Tarek al-Mulla said this week. Egypt—neither a member of OPEC nor a part of the non-OPEC group of producers in the OPEC+ coalition that restricts output to drain the glut and boost oil prices—has introduced new economic incentives to encourage more international investment in its oil exploration activities, Egypt Independent quoted minister al-Mulla as saying.   Egypt…