Diesel consumption has fallen by approximately 8% in 2017, Amwal Al Ghad reports.
In 2017, diesel consumption has equaled 1.1 million tons per month, compared to 1.2 million tons per month in 2016.
Even as consumption has been falling, Egypt has increased production. Production capacity has risen 5% to approximately 610,000 tons per month during 2017, compared to 580,000 tons per month during 2016, an official at the Egyptian General Petroleum Corporation (EGPC) told Amwal Al Ghad.
Egypt is currently pursuing a development and rehabilitation strategy for its refineries to increase capacity, most notably at the Middle East Oil Refinery (MIDOR) where upgrades and expansions are 60% complete, the official noted.
Lower consumption will decrease Egypt’s financial outlays on domestic diesel subsidies and higher local production will alleviate the need to import as much diesel, producing significant budgetary savings for the country.