Latest in Tag: fuel shortage Highlight

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Latest in Tag: fuel shortage

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Ministry of Finance allocates $100m for petroleum deficit

The Ministry of Finance (MOF) has allocated EGP 100 million to the Egyptian General Petroleum Corporation (EGPC) for supplying all electricity stations with the required petroleum needs. Minister of Finance Momtaz Al Saeed stated that during July and August, the Ministry allocated EGP 600 million to the EGPC in order to procure the necessary fuel …

Daily News Egypt

Egypt blames hoarding for renewed fuel shortages

By Tom Pfeiffer / Reuters CAIRO: A second wave of fuel shortages in Egypt this year has left drivers fuming in long queues at gas stations, disrupted business and led the financially-stretched government to blame speculators for hoarding subsidized petroleum. Dozens of diesel goods trucks lined up outside filling stations on highways out of Cairo and …


Egypt tumbles on energy woes; most Gulf bourses rise

By Patrick Werr and Nadia Saleem / Reuters CAIRO/DUBAI: Egypt’s bourse made its largest single-day loss in four months as fresh political tensions, gasoline shortages and a transport strike hurt investor sentiment, while most other Gulf indices rose thanks to upbeat global markets. Cairo’s benchmark index slumped 3.6 percent, the most it has fallen since November …


Gasoline shortage hits Egypt, tempers flare

By Maggie Michael / AP CAIRO: Across Egypt, long lines of cars and trucks snake around the corner from gas stations, drivers spend the night in their vehicles waiting for fuel at the pumps, and gas stations attendants complain of receiving only half their usual quantity of fuel — or none at all. Days into an …


Egypt petrol shortage causes long queues, snarled traffic

By Agencies CAIRO: Long queues snaked outside empty petrol stations in Cairo and other Egyptian cities on Thursday, as worried motorists waited for new deliveries amid fears of price hikes and longer-term scarcity. Industry professionals say the situation has shot fuel prices up on the black market, where some motorists have no choice but to …


Gas stations around Egypt report fuel shortage

CAIRO: Despite the government’s denial of serious fuel shortages, a number of gas stations across Egypt have reported a month-long ongoing cut in supply. Iman Derbala, owner and manager of Mobil Derbala gas station, told Daily News Egypt that even though the official media is saying there is no crisis, “stations are not getting their …


Gas station owners deny responsibility for supply shortage

CAIRO: A group of 30 Cairo gas station owners demonstrated Sunday in front of Misr Petroleum, demanding proper allocation of gas and oil resources, fair commission and a change of the company’s management. Some in Egypt have experienced a shortage of supply at a number of gas stations this past week. Earlier this month, South …


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