budget | Egypt Oil & Gas

House of Representatives Approves SCZONE’s General Budget for FY 2022/23

The Egyptian House of Representatives approved The Suez Canal Economic Zone (SCZONE)'s general budget for fiscal year (FY) 2022/23 at a value of EGP 42 billion.

Egypt Allocates EGP 3.5B to Deliver Natural Gas in FY 2022/23 Budget

The Egyptian Finance Ministry announced that the country has allocated EGP3.5 billion in its budget of the fiscal year (FY) 2022/23 to deliver natural gas to the households.

EGP30 Billion Allocated for Developing Public Petroleum Companies in 2022/23

The Minister of Petroleum and Mineral Resources Tarek El Molla has announced that Egypt allocated EGP 30 billion for the first time in the budget of the fiscal year (FY) 2022/23 to develop the petroleum companies ...

Prime Minister Reviews EGPC’s Budget for FY 2020/21

The meeting reviewed the preliminary results for EGPC's budget during the past FY, which showed restructuring the oil and gas sector, resulting in overall development and change of the sector's activitiesز

GUPCO Targets Production of 77,000 BBL/D in FY 2020\21

The Gulf of Suez Petroleum Company (GUPCO) has approved a budget of around $543 million to achieve a production rate of around 77,000 barrels per day of crude oil (bbl/d) in Fiscal Year (FY) 2020\21, GUPCO Chairma ...

Egypt to Cut Petroleum Subsidies by 42% in FY 2019/20

The Egyptian government decided decreasing petroleum products subsidies by 42% in the budget plan of fiscal year (FY) 2019/20.

Egypt Spends EGP 45B on Fuel Subsidies in H1 2018/19

Egypt has spent around EGP 45 billion on fuel subsidies during the first half of fiscal year (FY) 2018/19, Minister of Petroleum Tarek El Molla has said.

Egypt Cancels Fuel Hedging Contracts

The Ministry of Finance has canceled plans to purchase fuel hedging contracts from international financial institutions.

Finance Ministry to Allocate $80/Barrel of Oil in the 2019/20 Budget: Government Official

The Egyptian Ministry of Finance will calculcate the 2019/20 budget using a benchmark oil price of $80 per barrel.

El Molla Requests Budget Increase for Fuel Subsidies

Egyptian President Abdel Fattah El Sisi has revealed that petroleum minister Tarek El Molla requested increasing fuel subsidy allocations to $125 billion.

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