Exports of petroleum products have notably declined in August, dropping by 38% to reach $310.2m in comparison to $500.6m during the corresponding period last year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Petroleum imports increased during the same period to reach 920.5m tons, in comparison to 879.4m tons during the same month in the last year.
Petroleum production in September decreased year-on-year (YoY) to record 5.62m tons compared to 5.9m tonnes. Meanwhile, consumption of petroleum products inched down in September to reach 6.191m tons, compared to 6.194m tons consumed during the same month in 2014.
During September, the production of natural gas totaled 2.68m tons, in comparison to 3.11m tons a year before.
In November, the Egyptian Natural Gas Holding Company (EGAS) issued a report in which it stated that the daily production rate of natural gas declined to 4.15 bcf, compared to 4.25 bcf last month.
Daily News Egypt reported that Egypt’s production rate declining by 1.2 bcf per year on average and total compensatory wells connected to production lines since 2014 provide no more than 700 mcf annually. In addition, Egypt’s total losses of production of gas are estimated at 500 mcf per year, where total production reached 4.65 bcf per day by the end of last year compared to the current 4.15 bcf.