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.
budget | Egypt Oil & Gas - Part 2
Egypt’s Fuel Subsidies Bill May Reach EGP 100B in 2018/19: Government Source
Egypt's fuel subsidies bill could reach EGP 100 billion in fiscal year (FY) 2018/19 due to the recent surge in oil prices, according to a government source.
El Molla: Egypt will Continue to Cut Energy Subsidies
Egypt will continue to cut energy subsidies in order to decrease government expenditure, petroleum minister Tarek El Molla has said.
IMF: Fuel Price Mechanism to Strengthen Egyptian Budget
The International Monetary Fund (IMF) has said that the recently-approved automatic fuel price mechanism will protect Egypt's budget from movements in the global oil markets.
Egypt Pays $75 a Barrel to Import Fuel
The Egyptian government announced in an official document that fuel imports cost $75 per barrel.
Electricity Receives EGP 3 B from Subsidies Allocations
The Egyptian Ministry of Electricity and Renewable Energy received EGP 3 billion late December as a part of the amounts allocated for electricity subsidies.
Libya Earns $14B in Oil Revenues
Libya has earned $14 billion in oil revenues in 2017, which is tripling the 2016 $4.8 billion oil revenues and allowing to halve Libya’s budget deficit, the Central Bank of Libya announced.
El Molla: Enhancements in Public Sector Company Budgets to Sector Performance
The new budgets of public sector’s oil companies, for fiscal year (FY) 2018/2019, aim at boosting the performance of Egyptian refineries and strengthening their role in securing citizens’ fuel demands, Egyptian Mi ...
Merlon to Invest $66 M in E&P in Egypt
Merlon has allocated $66 million investments in fiscal year (FY) 2-18/2019 budget for exploration and production E&P operations in Egypt.
Cost of Fuel Subsidy Program Rises 68%
The cost of Egypt's fuel subsidies rose 67.86% year on year (Y.o.Y.) for the first quarter of the fiscal year.
