Labels:text | screenshot | font | black and white OCR: Oil and gas are Egypt's most valuable resources. Most of Egypt's oil comes from the western desert, the Red Sea, Sinai and Upper Egypt. Oil multinationals are involved in new explorations, but Egypt is not as profitable a source as more competitive oil-rich countries, such as Algeria and Yemen. 55% of Egypt's oil production is consumed locally. Most electricity in Egypt is derived from hydroelectric power and coal rather than oil. The massive Aswan Dam provides the bulk of hydroelectricity. Begun in 1960 and completed ten years later, the dam has a generating capacity of 10 billion kwh. By 1974, revenue from the dam had covered construction costs.
