energy subsidies

  • El Molla: Egypt will Continue to Cut Energy Subsidies

    El Molla: Egypt will Continue to Cut Energy Subsidies

    Wednesday, 3rd October 2018

    Egypt will continue to cut energy subsidies in order to decrease government expenditure, petroleum minister Tarek El Molla has said.

  • MPs Question Gas Price Increases

    MPs Question Gas Price Increases

    Tuesday, 24th July 2018

    Members of parliament 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

    IMF Begins Third Review of Egyptian Economic Reforms

    Monday, 7th May 2018

    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.

  • IMF: Egypt on Positive Trajectory but Inflation Threatens Stability

    IMF: Egypt on Positive Trajectory but Inflation Threatens Stability

    Wednesday, 27th September 2017

    Egypt has made a “strong start” on its reform program, but high inflation threatens macroeconomic stability.

  • Oil Expert: IMF Loan is a Trap

    Oil Expert: IMF Loan is a Trap

    Monday, 8th August 2016
    '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 exclusive interview with Egypt Oil&Gas.
  • EGPC Official: Oil Price Rise Disfavorable to Energy Subsidies

    EGPC Official: Oil Price Rise Disfavorable to Energy Subsidies

    Monday, 9th May 2016
    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 fiscal year budget of the country.
  • Petroleum Expert: Fuel Imports Costs to Increase by 5% per Month

    Petroleum Expert: Fuel Imports Costs to Increase by 5% per Month

    Tuesday, 12th April 2016
    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.
  • World Bank Reveals Details of $3b Loan to Egypt

    World Bank Reveals Details of $3b Loan to Egypt

    Monday, 1st February 2016
    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.
  • Saudi Companies Project Production Costs Rise in 2016

    Saudi Companies Project Production Costs Rise in 2016

    Sunday, 3rd January 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 price hikes of fuel, electricity, and natural gas.
  • EGPC: New Mechanisms to Rationalize Energy Subsidies

    EGPC: New Mechanisms to Rationalize Energy Subsidies

    Sunday, 20th December 2015
    The EGPC is implementing new plans to rationalize energy subsidies for the current budget without raising fuel prices in the local market.