EGPC: Egypt sees slight bump in hydrocarbon production figures

Mohamed El-Bahrawi
2 Min Read

October’s production figures of crude oil and condensate witnessed a slight 1.3 per cent bump compared to September’s numbers, stated a report from the Egyptian General Petroleum Corporation (EGPC).

The increase is attributed to adding the output of several new developmental wells, situated in the Western Desert, to the overall production figures. Collectively, the new wells produce 14,000 barrels per day. Daily domestic consumption of gasoline has increased by 2 per cent, reaching 23.7 million litres, while diesel fuel consumption rose to 45 million litres per day.

Average daily consumption of (Liquefied Petroleum Gas) LPG cylinders reached 796 thousand per day, currently being produced by 50 factories. The current amount would fulfil the demand of 13.5 million households, with an average of 1.5 cylinders per month per household.

A total of eight new LPG distribution centres have been brought online, located in the provinces of Cairo, Giza, Gharbeyya, Assiut, Sohag and Minya, bringing the total distribution centres to 2,897 in addition to 182 centres that belong to Botagasco.

Consumption of natural gas also witnessed an increase of 2.3 per cent, standing at 7.2 million tons of oil equivalent.  Electricity consumption amounted to 4 million tonnes, representing a 4 per cent rise.  Natural gas has been extended to additional 75,447 households, bringing it to a total number of 5.1 million homes.

The report indicated that Al-Sukkary’s gold mine produced about 1.4 tons of gold last month, the royalty tax of which was EGP 2.3 million. During the 2011-2012 fiscal year, public sector petroleum companies have generated revenues totalling EGP 14.7 billion, a 9 per cent increase from fiscal year 2010-2011. Net profit before tax amounted to EGP 1.765 billion, 515 million of which were paid in taxes.

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