Latest in Tag: Fuel Highlight
Latest in Tag: Fuel
34% increase in fuel subsidies costs in H1 FY 2017/18: El-Molla
The costs of fuel subsidies grew by 34% in the first half (H1) of the fiscal year (FY) 2017/18, to reach EGP 51bn, increasing from EGP 38bn, Minister of Petroleum Tarek El-Molla told Reuters on Wednesday. El-Molla added that despite the witnessed increase in subsidies costs, the subsidies bill is still EGP 4bn below …
EOS issues new Egyptian fuel specifications
The Egyptian Organisation for Standards and Quality (EOS) has held a number of meetings with the Transportation Division of the Chamber of Engineering Industries to develop a new fuel standard and octane ratios for gasoline used in the Egyptian market. Samir Allam, deputy head of the Transportation Division of the Chamber of Engineering Industries, said …
Clarksons negotiates with 2 companies to establish fuel station for ships worth $200m
Mohamed Metawi, managing director of Clarksons Shipping Agency, said that the company is negotiating with two international companies, in the field of ship fuel supply, in order to establish a station for ships’ fuel supply in Egypt. He told Daily News Egypt that the value of investments expected to be injected into the station is …
Total, Kharafi Group sign partnership agreement with investments of EGP 300m
Total Egypt signed a strategic partnership agreement with Kharafi Group for the supply of fuel and derivatives and the establishment of a facility for the supply of advanced jet fuel at Marsa Alam Airport, worth EGP 300m in the first stage, Ian LePetit, Total Egypt’s managing director, said that the company is providing fuel to …
Daily News Egypt closely examines Total Egypt’s quality assurance technology
Total Egypt has announced the launch of a new fuel storage and distribution technology similar to that used in refuelling aircraft to ensure the purest fuel, free of impurities. The new method relies on drawing the gasoline or diesel from the “highest point” in storage instead of its lowest, thus ensuring pure fuel without impurities …
Fuel production cost expected to increase allocated subsidies by EGP 30bn in FY 2017/2018
An official source at the Ministry of Petroleum and Mineral Resources said that petroleum product subsidies are expected to exceed the sector’s allocations in the state budget for the fiscal year (FY) 2017/2018. The expected rise comes as a result of the increase in global crude oil price as well as the dollar exchange rate …
Government did not inform parliament of upcoming increases in fuel prices: Hegazy
Fuel prices may rise before the end of the current fiscal year as part of the economic reforms undertaken by Egypt to obtain a loan worth $12bn from the IMF, while in the Q2 and Q3 of the current fiscal year, there aren’t any intentions for increasing prices
Uber raises tariff after fuel price hikes
The ride-hailing company, Uber, has decided to amend its tariff, following the hike in fuel prices at the end of June. According to the new prices, the basic fare was increased to EGP 6 for UberX and EGP 7 for Uber Select. The company also increased the tariff per km to EGP 1.85 for UberX …
Fuel price hikes drive consumers to switch to gas instead of gasoline
The switch will save EGP 500 per month at an average use of 10 litres of gasoline 80
Fuel subsidy cut does not affect car sales: experts
95 gasoline is the best economically for popular cars on the long term: Masrouga
Citizens will pay actual fuel price in FY 2018/19 compared to 85% in FY 2017/18: MP
MP Talaat Khalil demanded the dismissal of government for wasting EGP 500m allocated for fuel smart cards system
Floating hotels incur EGP 50,000 of weekly losses due to high fuel prices
In case of implementing programmes and loading companies with the difference in diesel prices, owners of boats could suffer losses of over EGP 50,000
Egypt inflation likely to rise 3-4.5% after fuel price hike: Kojak
Egypt’s inflation rate is expected to rise by between 3 and 4.5 percent following last week’s fuel price hike, Deputy Finance Minister Ahmed Kojak said on Monday. Global Search House expected prices to resume rally again after Egyptian government enacted a second round of economic reforms at the beginning of the fiscal year 2017/2018. Egypt …
Egytrans launches road transport fleet project worth EGP 9m during current FY
Egytrans signed an agreement with Ahli United Bank to have a facility of EGP 35m as letters of guarantee and about EGP 20m working capital
Fuel prices increase construction costs by 15%
Recent economic reform decisions raised administrative expenses and profits of contracting companies by 30%, says Abdellah
Mobile prices expected to hike after surge in fuel prices and VAT
Samsung mobile prices decline by 6.5%, Chinese Itel raises its prices by 13% in June
Government raises fuel prices, gasoline 92 surges to EGP 5
Measure comes within the economic reform programme to rationalise spending and finance social protection of low income citizens
Electricity Ministry will pay EGP 700m of fuel arrears to Petroleum Ministry next week
We aim to increase monthly amounts to EGP 1bn, says official
World Bank accused of financing fossil fuel development
Brent hike and flotation eats 91% of fuel subsidies allocation in H1 of FY 2016/2017
Ministries of electricity and petroleum call for additional allocations to face impact of currency flotation, VAT, and rising cost of borrowing in H2 of FY 2016/2017
EGPC poses tender to replace Aramco fuel shipments in January
The Egyptian General Petroleum Corporation is set to pose a tender to supply all needs of the domestic market of petroleum products in January, replacing the Saudi Aramco shipments, which were halted since October. A government source told Daily News Egypt that Aramco’s contract to supply 700,000 tonnes of petroleum products per month was stopped, …
Petroleum Ministry to pose fuel tender as alternative to Aramco contract in December
Talks with Saudi Arabia are ongoing to discuss Aramco’s position on the 700,000-tonne monthly shipments contract
Cabinet obliges cement plants to use 15% of waste as alternative fuel sources in 2030
Use of alternative fuel sources will participate in saving $51m annually by 2025, says IFC
Egypt has received fuel shipments worth $1.2bn from Aramco over the past 4 months: Petroleum Minister
The value of petroleum products exported by the Saudi Arabian company Aramco to Egypt beginning in May of this year and throughout the past four months has reached $1.2bn. This amount was estimated at 700,000 tonnes of fuel per month. Minister of Petroleum and Mineral Resources Tarek El-Molla told Daily News Egypt that the value …
Industry Minister seeks to increase use of cement plants for alternative fuel sources by 30%
The increase of alternative fuel sources will save $50m annually by 2025, says minister
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Aramco oil deal with Egypt still on, suspension of October shipments ‘exceptional’
Aramco informed EGPC of its inability to supply Egypt with shipments of petroleum products for October only, says Egyptian official
Egypt receives $650m worth of fuel from Saudi Arabia in May and June
Brent hike moves Aramco bill to $350m this month
Study: Most EU carmakers report false CO2 emissions
Carmakers are systematically exploiting weak and outdated EU laws to claim misleading statistics about fuel efficiency, a new report says. Real-world CO2 emissions are up to 40 percent higher than in the lab.
EGPC fails to provide cost of fuel for 13 ships held at Alexandria port: sources
The authority is paying $8,000 a day in waiting fees for the stalled ships, says official
Low fuel costs boost Lufthansa profits
Germany’s flag carrier Lufthansa posted a 55-percent jump in profits for 2015, benefiting from low oil prices. The result comes despite protracted industrial action by pilots throughout last year.