budget | Egypt Oil & Gas - Part 7
IMF Calls on Africa to Cut Fuel Subsidies, Diversify, Exert Fiscal Discipline in Low Oil Price Era
David Robinson, the IMF vice-director, has called on the African nations to adopt a package of policies to better ride out the ill-effects of the collapse of oil prices, reported NAIJ.com. These policies include budge...
Petroleum Sector Imports Projected at $16m for Current Fiscal Year
Egypt expects to import 28.6 million tons of crude oil, liquefied natural gas (LNG) and other oil products worth a total of almost $16 billion in 2015-16, the planning ministry said. The government expects to buy 7.79...
Low Oil Prices Threaten UAE Budget Crunch
The government of the United Arab Emirates is expected to cut spending by 4.2% this year as it begins to retrench because of low oil prices, which are slashing its energy export revenues, a central bank report said on...
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 s...
Update: Coal and Declining Oil Prices Help Reduce Fuel Subsidies, says El-Molla
Egypt has allocated 61 billion EGP ($8 billion) for fuel subsidies in the draft of 2015/2016 fiscal year budget, EGPC Chairman Tarek el-Molla said in a Saturday statement. On Thursday, Egypt’s cabinet approved an init...
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 Sa...
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 demonstra...
EGPC Put In Charge of Future LNG Imports
The Ministry of Petroleum has assigned importing the liquefied natural gas (LNG) needed for power plants during fiscal year (FY) 2015/2016 to the Egyptian General Petroleum Corporation (EGPC). The corporation would pa...
