Egypt to Pay for Halted Fuel Cargoes

Egypt to Pay for Halted Fuel Cargoes

A source with the Egyptian General Petroleum Corporation (EGPC) stated to Egypt Oil&Gas that the Egyptian Ministry of Petroleum and Mineral Resources will receive $250m from the Ministry of Finance within January to pay dues of fuel providers to be able to import more fuel and release any cargo held in the Egyptian Ports.

Two cargos with 120,000 tons of diesel and benzene are currently being held in ports, as Egypt did not pay their dues yet. The source added that once these cargos are released the volumes will be distributed equally across the governorates according to the schedule of the operations chamber to avoid crisis in filling stations. EGPC is pumping diesel and benzene in cooperation with security authorities in order to protect them from being leaked to the black market.

The source pointed out that filling stations are stable after the success of the Ministry of Petroleum in providing petroleum demands as the pumped amounts are covering the citizens needs. The government will pump up to 10% extra amounts in case of any crisis.

Sarah Samir 2536 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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