fuel prices | Egypt Oil & Gas - Part 5
Ministry of Petroleum Resolves Subsidy Debate
The Egyptian Ministry of Petroleum’s official spokesperson, Hamdy Abdel Aziz, said in a press release that there have been no final decisions in regards to lifting energy subsidies within three years.
Oman Revises Petrol, Diesel Prices
Oman’s Ministry of Oil and Gas has announced the revised petrol and diesel prices to be effective as of March. The prices for super grade and regular petrol decreased, while diesel price remained unchanged.
Local Stability of Dollar Saves Egypt 250m a Month
The stability of the local exchange rate for the US Dollar, will save the Egyptian government an estimated EGP 250m per month; a positive reduction that coincides with the low current Brent price of $28.94 (on Sunday ...
Oman Takes Long-Awaited Fuel Price Reforms
Oman has announced it will rise gasoline prices as of mid January. The move has been ascribed to the impact of persistently low oil prices.
Bahrain Amends Petrol Prices First Time in 33 Years
The Bahraini cabinet has just approved an amended price of petrol sales following the recommendations from the Executive Committee, as outlined in a memorandum submitted to Cabinet by the National Oil and Gas Authori ... Oman Adopts Austerity Budget Boosting Non-Oil Revenues
Oman has adopted an austerity budget for 2016 with a projected deficit of $8.6b in order to tackle the 50% decline in state revenue by introducing economic diversification, increasing non-oil revenues, and encouragin ...
Aramco Confident Saudi Can Ride Out Oil Price Crunch
Saudi's state oil company, Aramco stated that Riyadh had the capacity and was better equipped to wait out current low oil prices compared to other oil producers, while projecting a more stable market in 2016.
UAE Lowers Domestic Fuel Prices, Increases Public Spending
The UAE’s ministry of energy announced that it would lower domestic prices for gasoline and diesel in January, making a long anticipated move given the plunge in Brent crude.
