Fuel Subsidies Cost $2.42 B in FY 2018/19: El Molla
Egypt’s fuel subsidies costed around $2.42 billion in H1 FY 2018/19, down by 14.7% compared to the same period in FY 2017/18.
News / Egypt
Midor to Increase Refining Capacity to 4.5 M Tons/Year
The Middle East Oil Refinery (Midor) plans to increase its refining capacity, reaching 4.5 million tons annually after completing the development and rehabilitation processes.
IOCs Investments to Reach $10 B in FY 2019/20: El Molla
International Oil Companies (IOCs) plans to pump investments of around $10 billion on exploration and production (E&P) activities during the next fiscal year (FY) 2019/20.
Egypt to Develop Six Refineries in Four Years
Egypt plans to develop six refineries at a cost of $9 billion over the upcoming four years.
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
Egypt Consume 2.1 Tcf of natural gas in FY 2017/18
Egypt consumed an average of 5.753 billion cubic feet per day (bcf/d) in fiscal year (FY) 2017/18.
Egypt Exports 40 bcf of LNG in FY 2017/18
The country's exports did not have any amounts sent through pipelines in fiscal year (FY) 2017/18.
Petrogulf Corporation to Invest $50 M in FY 2018/19
Petrogulf Corporation plans to invest $50 million in fiscal year (FY) 2018/19, as the company is conducting a program that includes a number of projects to boost infrastructure efficiency and to rehabilitate, renew and develop the HSE systems.
Agiba Petroleum Produces 45,000 b/d of Crude Oil
The company plans to invest $320 million in fiscal year (FY) 2018/19.
SUCO Produces 23,500 boe/d
Suez Oil Company (SUCO) is implementing an ambitious program to boost production of the four fields; Desouq, Ras Badran, El Zeit Guf, and Ras Fanar to reach around 38,000 boe/d.
