energy subsidies | Egypt Oil & Gas
MPs Question Gas Price Increases
Parliament members requested on June 22 to send a letter to Prime Minister Mostafa Madbouly and Minister of Petroleum Tarek El Molla asking them to explain the reasons behind the latest increase in natural gas prices,...
IMF Begins Third Review of Egyptian Economic Reforms
A delegation from the International Monetary Fund (IMF) arrived in Egypt on May 4 to conduct the third review of Egypt’s economic reform program, Al-Ahram reported. Successfully passing the review will result in...
IMF: Egypt on Positive Trajectory but Inflation Threatens Stability
Egypt has made a “strong start” on its reform program, but high inflation threatens macroeconomic stability, according to the recent IMF report, Egypt Oil & Gas reports. Fiscal and regulatory reforms have improved...
Oil Expert: IMF Loan is a Trap
‘The International Monetary Fund (IMF) is a trap meant to drown Egypt in foreign loans and if Egypt accepts it, the country may soon declare bankruptcy,’ said Ibrahim Zahran, a petroleum expert, in an excl...
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...
Petroleum Expert: Fuel Imports Costs to Increase by 5% per Month
As Egypt devalued its currency with the current exchange rate standing at EGP10.20 for $1, the price of fuel imports will increase by at least 5% per month, petroleum expert, Aziz Effat, told Egypt Oil&Gas. This w...
World Bank Reveals Details of $3b Loan to Egypt
The World Bank has revealed details of the $3b loan to the Egyptian government, which entails raising tax revenue and electricity prices, while reducing government’s wages and energy subsidies, Egypt Independent wrote...
Saudi Companies Project Production Costs Rise in 2016
Saudi Arabia’s companies – Tasnee, SABIC, PetroRabigh and Yansab – have announced that their annual production costs would increase in 2016 following the latest government subsidy reforms that led to... 
