VAT Revenues from Oil Sector Rose 520%
Value-added-tax (VAT) revenue from the oil sector grew at a faster pace than from other economic sectors during fiscal year (FY) 2016/2017.
Egypt | Egypt Oil & Gas - Part 326
Monday Minute: Economic Snapshot
A summary of the week’s important macroeconomic updates and indicators brought to you on one page for your convenience.
First Phase of Development at Zohr 91% Complete
The first phase of development at the Zohr gas field is 91% complete.
Egypt to Receive $2B from IMF after 2nd Review
Egypt will receive the third tranche of its $12 billion loan from the International Monetary Fund (IMF) after the visit by the IMF delegation next month.
IMF Official: Egypt to Set Pace of Fuel-Subsidy Cuts
Egyptian authorities will determine the date of future fuel-subsidy cuts, according to the Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).
Botagasco Opens a New Butane Warehouse
Egyptian Company for Gas Transportation and Delivery (Botagasco) opened a new butane distribution warehouse in Kirdasa, Giza, to serve the citizens of Kirdasa and its surrounding area.
Shell to Drill 63 Wells in Western Desert
Royal Dutch Shell plans to drill 63 wells in the Western Desert during 2018.
96.1% Public Facilities Rely upon Electricity
Electricity is the main source of fuel for 96.1% of Egypt’s public facilities.
Egypt Invests EGP 483B in Electricity Grid
Egypt has recently invested EGP 483 billion in projects to develop its national electricity grid
Egypt’s Fuel Imports Reach $819M in June
The Egyptian oil and gas sector imported fuel for $819 million in June 2017, making around 30.6% Year-over-Year (Y-o-Y) increase from $627 million worth fuel in June 2016.
