budget | Egypt Oil & Gas - Part 4
Fuel Prices Hikes Expected Next Fiscal Year
Egypt's government is planning to raise fuel prices next fiscal year in effort to keep subsidies spending on budget. Egypt’s Cabinet Aiming to Cut 25% of Imported Fuel Cost
The Egyptian government is willing to reduce the energy consumption to avoid increasing energy subsidies allocations to EGP100b in 2017 / 2018 budget.
Sovereign Authorities Reject Petroleum Price Hike
A governmental official stated to Egypt Oil&Gas that sovereign authorities are strongly rejecting the raise in prices of petroleum products during the current fiscal year 2016/2017.
Nigeria Maintains Oil-Revenue Forecast Despite Decline
Nigeria maintained revenue forecast for this year’s budget based on daily oil production of 2.2m barrels despite output falling over the April, reaching a 22 year low currently.
EGPC Official: Oil Price Rise Disfavorable to Energy Subsidies
An official at the Egyptian General Petroleum Corporation (EGPC) told Egypt Oil&Gas that the rise in oil prices that would exceed $50 a barrel may pose a threat to energy subsidies as currently itemized in the new fi ... Buhari Signs Nigeria Delayed Record-Budget
Nigeria's President signed the delayed 2016 budget into law ending weeks of wrangling with lawmakers and tripling capital expenditure as Africa's biggest economy contends with its worst crisis in years.
Nigeria Striving to Make Up for Budget Shortfalls
Nigeria might use money set aside for funding joint venture projects with foreign and local oil firms to make up any shortfall in the 2016 budget if government revenue projections are not met, Finance Minister, Kemi ... Egypt to Reduce Fuel Subsidies by 43% in 2016/2017 FY
Egypt will reduce spending on fuel subsidies by nearly 43% in the 2016/17 budget due mainly to lower global energy costs.
