Gulf States’ Fuel Supplies to Egypt Shrink Import Bill

Gulf States’ Fuel Supplies to Egypt Shrink Import Bill

In an statement to Egypt Oil&Gas, Ibrahim Zahran, an oil & gas expert, affirmed that the Gulf States supply of fuel maintained stability in Egypt’s domestic markets as it helped cut down 25% of its current import bill.

Zahran said that the rise in the dollar’s exchange rate against the Egyptian pound will increase the amount of energy subsidized by the government.

Further, he emphasized the importance of re-operating gas fields stalled due to overdue debts of foreign partners and given the current circumstances when Egypt pumps 18m tons/d of gas from its fields and processes 37.5m tons of diesel, with a goal to avoid any energy crises.

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