Egypt Introduces New Fuel Pricing Indexation Mechanism
Egypt will start applying the new fuel pricing indexation mechanism to all petroleum products starting from Q4 2019.
News / Egypt
Government Closely Monitoring Fuel Market
Operations rooms at the Ministry of Petroleum and the Cabinet's Information and Decision Support Center (IDSC) are closely following fuel distribution and transportation prices.
Egypt Announces New Fuel Prices
The Egyptian Cabinet announced the new fuel prices on July 5, increasing prices by around 25% after subsidy cuts.
Energean Acquires Edison for $750 MM
Edison exploration and production (E&P)’s portfolio of assets includes producing in in the growing eastern Mediterranean gas hub, with a significant presence in Egypt’s offshore basin.
Egypt Records First Hydrocarbon Trade Surplus in 5 Years: CBE
Petroleum exports amounted to $3.2 billion while imports stood at $2.4 billion during Q4 2018.
Egypt Announces New Oil Discovery in Sinai
Petrobel plans to drill 10 developmental wells with a crude oil production rate of around 3,000 barrels per day (b/d).
Petrobel Introduces New HSE Fire Truck
The achievement was announced in order to fulfill the Ministry of Petroleum’s vision regarding enhancing the health, safety and environment (HSE) and preventing any accidents during the oil and gas manufacturing process.
Egypt to Export 2 bcf/d of Natural Gas by End of 2019
The Egyptian government is working on exporting around 2 billion cubic feet per day (bcf/d) of natural gas by the end of 2019, according to the Minister of Petroleum, Tarek El Molla.
Petroleum Products’ Subsidies Backs Economic Reform Program
The new petroleum products’ subsidies come in line with Egypt’s economic program, which aims to boost the sector.
Petroleum Arrows Transports 8.5 MM of Liters of Fuel Daily
 A portion of the amount being transported will be allocated to the development projects being established by the government, such as Suez Canal and the New Administrative Capital.
