Egyptian output of petroleum products has increased by 6.3% in 13 fiscal years (FYs) to reach 28.9 million metric tons (MT) in FY 2015/2016, compared to 27.1 million MT in FY 2002/2003, Egypt Oil & Gas reports.
Meanwhile, the country’s consumption of petroleum products rose by 83.3% in the same period to be 39.4 million MT in FY 2015/2016, compared to 21.5 million MT in 2002/2003, according to Central Agency for Public Mobilization and Statistics (CAPMAS)’s study “Egypt’s Energy Future Between (2002/2003-2015/2016)”.
Additionally, Egypt’s petroleum products’ exports increased by 60.8% as it rose from 20.4 million MT in FY 2003/2004, to 32.8 million MT in 2007/2008. Yet, exports fell by 47% from that date to record 17.4 million MT in FY 2015/2016.
Meanwhile, imports of petroleum products rose by 983.5% during the same period to record 24.9 million MT in 2015/2016, compared to 2.3 million MT in 2003/2004.
Value of petroleum products and natural gas subsidies increased by 205.5% during the period from FY 2005/2006 to 2012/2013, then it dropped by 60.2% from FY 2012/2013 until 2015/2016 in line with the economic reforms implemented in Egypt.