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Upper Egypt pipelines receive 7.5m tonnes of fuel annually: PPC

Upper Egypt receives about 7.5m tonnes of crude oil, butane, and petroleum products through pipelines annually, the Chairperson of Petroleum Pipeline Company (PPC), Abdel- Moneim Hafez, said He pointed out that investments worth EGP 3.6bn were injected into Upper Egypt, including a project to increase the capacity of butane to Lower Egypt governorates from a …

Mohamed Adel

“Fuel subsidy reform plays a key role in fiscal consolidation”: IMF

In its third review under the extended arrangement in accordance with the Extended Fund Facility issued in July 2018, the International Monetary Fund (IMF) assured that the ongoing energy subsidy reform continues to play a key role in fiscal consolidation. It clarified that the fuel subsidy bill has decreased from 3.3% of the GDP in …

Daily News Egypt

Egyptians bear 70% of fuel prices through threefold price hikes in 2 years

To meet the demands of the IMF to grant Egypt the $12bn loan, curb the budget deficit, and to deal with the increasing inflation rate, fuel subsidies underwent non-recurrent stages to be phased out, toward being fully suspended in 2019 according to a subsequent 2018 statement for the Minister of Petroleum and Mineral Resources, Tarek …

Doaa A. Moneam

Fuel exports up to $3.4bn in 7 months

The oil sector has been able to raise the value of its foreign exports of fuel to $3.4bn between January and July 2018, up from $2.5bn in the same period in 2017, up by $883m. According to the CAPMAS, total crude oil exports reached $1.1bn in that period, against $1.6bn in that period of 2017, …

Daily News Egypt

Egypt’s fuel imports rise to $5bn in five months

Total fuel imports from January to May 2018 rose to about $5.035bn compared to $4.924bn in the January-May 2017 period, with an increase of nearly $111m. According to the latest statistics of the Central Agency for Public Mobilization and Statistics (CAPMAS), total imports of crude oil amounted to $1.483bn, during the first five months of …

Daily News Egypt

Car companies struggle to stabilise prices after fuel price changes

The car market has received the decision to increase fuel prices with a stabilisation of the delivery prices of the current month, ignoring the projections on social media of the upcoming period and a possible increase in prices. Some of the companies that have kept their prices fixed are Mercedes-Benz, Opel, Chevrolet, BMW, Toyota, Renault, …

Ahmed Amer

Egypt’s fuel imports value increases to $4bn within 4 months

Egypt’s fuel imports value rose to about $4bn from January to April 2018, compared to $3.9bn during the same period in 2017—an increase of $124m. The Central Agency for Public Mobilisation and Statistics (CAPMAS) reported that the value of the country’s crude oil imports during the first four months of the year amounted to $1.15bn, …

Daily News Egypt

Is riding scooters best solution for facing hike in fuel prices?

After the last rise in the fuel prices, every citizen in Egypt, thinks about the negative effect of this rise on  one’s budget for transportation, either to ride private cars, taxes, or even buses. Egypt’s new government raised fuel prices by 35.0-66.6% in emid-June with an immediate effect. The price hikes are part of the …

Nihal Samir