budget | Egypt Oil & Gas - Part 7
Sisi Ratifies New Budget, $8m Earmarked for Fuel Subsidies
Egypt's President Abdel Fattah El-Sisi on Thursday ratified the state budget for the fiscal year 2015/16 following amendments by the ministry of finance to slash projected budget deficit, according to Egyptian state TV.
Update: Coal and Declining Oil Prices Help Reduce Fuel Subsidies, says El-Molla
“Oil subsidies during the current FY (to end June 30) amounted to 70 billion EGP, down from an estimated 100 billion EGP in the state budget,” Molla said.
Egypt Earmarks EGP 61bn for Fuel Subsidies
Egypt's draft 2015/2016 budget earmarks 61 billion Egyptian pounds ($8 billion) for fuel product subsidies, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Saturday.
Qatar Riding Out Oil Price Slump Better Than Rest of GCC
Recently released stats expose the effects of the plunge in oil prices on the fiscal systems of the Gulf Cooperation Council (GCC) economies. However, it is fair to claim that the Gulf countries at large are demonstr ...
EGPC Put In Charge of Future LNG Imports
El-Mulla assured that no Ministry of Finance budget will be allocated to import gas.
Rouhani Authorized to Raise Gasoline Prices
The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices.
Iraq: Budget Trimmed Due to Oil Prices
Falling oil prices forced Iraq’s cabinet to revise its draft 2015 budget, trimming its forecast for oil to $55 a barrel from $60.
