Parliament Approves Egypt-Cyprus Gas Pipeline
The agreement aims to facilitate exporting natural gas from Cyprus to Egyptian liquefaction plants, Idku and Damietta.
Egypt | Egypt Oil & Gas - Part 227
Fuel Cargoes Imports Exceed $400 M per Month
Benzene, diesel and butane are the most imported fuels due to local consumption.
Egypt’s Natural Gas Output Increases 30.35% YOY
Egypt’s natural gas output increased by 30.35% YOY reaching 4.067 million tons in November 2018, up from 3.12 million tons produced in November 2017.
Petroleum Products Consumption Falls by 11.6% YOY
Egypt’s consumption of petroleum products dropped by around 11.6% YOY in November 2018 to 2.542 million tons, compared to 2.877 million tons in November 2017.
IMF Executive Board to Discuss Egypt’s Fourth Economic Review
Christine Lagarde, IMF Managing Director, recommends IMF board to approve the fourth review of Egypt's IMF loan facility.
EGAS to Drill 13 Wells with $510 M Investments
EGAS plans to drill 13 wells in Nile Delta and the Mediterranean Sea during FY 2019/20, with total investments exceeding $510 million.
Condensates Production Increases by 3.6% YOY
Egypt's production of condensates grew by 3.6% YOY, recording 30.7 million barrels in FY 2017/18, compared to 29.63 million barrels in 2016/17.
Egypt Natural Gas Production to Reach 8 bcf/d in FY 2019/20
Egypt's natural gas production is expected to reach 8 bcf/d during FY 2019/20 due to completing and operating natural gas development projects.
Fuel Subsidies Cost $2.42 B in FY 2018/19: El Molla
Egypt’s fuel subsidies costed around $2.42 billion in H1 FY 2018/19, down by 14.7% compared to the same period in FY 2017/18.
Egypt Consume 2.1 Tcf of natural gas in FY 2017/18
Egypt consumed an average of 5.753 billion cubic feet per day (bcf/d) in fiscal year (FY) 2017/18.
