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20% increase in barrel price than estimated by state budget
The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters. The government document allegedly obtained by the news agency showed that the value of subsidies in the new budget amounted to EGP 89.075bn, down from about EGP …
Total amounts transferred by Sumed pipeline reached 65.8m tonnes in 2016/2017, costing EGP 37 per tonne
Establishment, expansion of seven refineries
The total cost of transportation of petroleum products reached EGP 18.1bn in 2015/2016, up from EGP 14.1bn in 2014/2015—an increase of 28%. The Central Agency for Public Mobilization and Statistics (CAPMAS) issued its annual bulletin on the means of transporting petroleum products in 2015/2016, indicating that the total transported quantities by the various means of …
During August, the deficit in the trade balance recorded EGP 37.8bn, compared to EGP 38.9bn in August 2015, a decrease of 3.1%, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin on foreign trade statistics. In a statement issued on Monday, CAPMAS noted that the deceleration happened because the value of …
I, like many others, was surprised by the sudden decision taken by Saudi Aramco to stop supplying Egypt’s needs of petroleum products, despite the agreement between Egypt and Saudi Arabia stating that the latter will secure Egypt’s requirements for petroleum products at 700,000 tonnes per month for five years. The value of the agreement between …
VAT exempted goods will include all essential goods and services, says Ministry of Finance
All concluded products with foreign companies were modified in order to provide fuel, says Petroleum Minister
The loan will also finance the launch of a quay in Ain Sokhna
The total amount of produced clean water stood at 8.87bn cubic meters in FY 2013/2014 compared to 8.79bn cubic meters in 2012/2013, an increase of 0.9%
Project expected to be completed by mid-2017
Egypt recorded trade balance deficit of EGP 24.60bn in April 2015, says CAPMAS
Expected decline in fuel consumption is 5% during new fiscal year, says EGPC executive chairman
Egypt recorded trade balance deficit of EGP 26.7bn in March 2015
In 2013, Egypt’s total primary energy consumption was 1.7m barrels per day of oil equivalent, according to BP 2014 Statistical Review of World Energy
Government decisions not enough, Egypt needs to treat economic crisis by developing comprehensive economic plan, economic analyst
Imports and exports decrease by 18.8% and 12.7%, respectively
EGPC’s inability to follow-up on the fuel distribution process made it face problems tracking smuggling.
Budget witnesses major changes in health, education, electricity and petroleum products subsidies.
The supply of petroleum products, via smart cards, to cars will begin during the first quarter of the year.