Egypt to sell off stakes in oil firms

Egypt has said it plans to sell off shares in state oil firms as part of its privatisation programme and efforts to attract foreign investment and enhance performance.

The process will begin by selling stakes in the Alexandria Mineral Oils Co. (AMOC) and the Sidi Krir Company for Petrochemicals, Investment Minister Mahmud Mohieddin was quoted by the official MENA news agency as saying Wednesday.