UK’s BP issued a report stating that Egypt’s consumption of various energy resources rose 4.7% to reach 91m tons of oil equivalent in 2016, compared to 86.7m tons in 2015, informed Energy Egypt.
Egypt’s oil consumption reached 40.6m tons of oil equivalent during 2016, while gas and coal consumption were seen at 46.1m tons and 400,000 tons, respectively, in the same year.
Meanwhile, hydropower consumption neared 3.2m tons of oil equivalent, and about 600,000 tons of renewable power, the report showed.
Additionally, daily consumption in the Egyptian market jumped by 2.8%, from 830,000b/d in 2015 to 853,000b/d in 2016.
However, Egypt’s oil production fell by 4.8% to 33.8m ton in 2016, compared to 35.4m ton the year before.
BP’s report stated that Egypt’s proven oil reserves are estimated at 3.5b barrels, representing 0.2% of global reserves.
Meanwhile, the volume of Egypt’s gas reserves represented 1% of total global reserves, or about 1.8tcm by the end of 2016.