Fuel Subsidy Bill Drops by 19.1% in FY 2018/19
Egypt’s fuel subsidy bill dropped by 19.1% to reach EGP 89.075 million in fiscal year FY 2018/19, compared to EGP 110.148 million in FY 2017/18, Egypt’s Financial Statement for FY 2018/19 revealed.
News / Egypt
Egypt Starts Hedging Mechanism in FY 2018/19
The Egyptian government is taking a hedging mechanism against oil and food commodities price fluctuations in fiscal year (FY) 2018/19.
Petrogas Pumps 350,000 Tons of Butane Monthly
The company is committed to cover the local market’s butane demands all year round, with the support of local refineries and 150,000 warehouses in the company's premises that work on filling butane cylinders.
Petrojet, Russian CNIITMASH Sign MoU for Nuclear Projects
Egypt’s Petrojet signed a memorandum of understanding (MoU) with Russia’s JSC RPA CNIITMASH to cooperate in establishing nuclear projects in the Middle East and North Africa (MENA).
MEDGIO Aids Gas Trading Hub Plans: El Molla
Cooperation between the East Mediterranean Gas Transmission Network Operators (MEDGIO) country members is set to enable the sustainable development strategy by securing energy demands with renewable energy.
Egypt Receives 2 M Barrels of Iraqi Crude
Middle East Oil Refinery (MIDOR) will receive the Iraqi crude as the company decided to refine the amounts of crude on its own.
Idku Gas Exports Decrease to 500 mmscf/d
EGAS decreased the natural gas amounts exported via Idku liquefaction plant to 500 million standard cubic feet per day (mmscf/d) instead of the 800 mmscf/d exported in March.
EAEA, TVEL Provide Uranium to Nuclear Reactor
The agreement was signed at Atomexpo-2019 International Forum, taking place in Russia.
Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt to Add 10.5 M Households to Gas Grid End of 2019
The country has linked a total of 9.6 million households to the national gas grid so far since the project's initiation to the beginning of 2019.
