fuel prices | Egypt Oil & Gas - Part 6
Oman Takes Long-Awaited Fuel Price Reforms
Oman has announced it will rise gasoline prices as of mid January, reported Trade Arabia. The new prices per liter of gasoline will be 0.160 rials ($0.4156) for 95 Octane and 0.140 rials for 90 Octane. Diesel will cos...
Bahrain Amends Petrol Prices First Time in 33 Years
The Bahraini cabinet has approved an amended price of petrol sales following recommendations outlined in a memorandum submitted to cabinet by the National Oil and Gas Authority (NOGA), reported Gulf Digital News. The ...
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 encouraging...
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, Re...
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, reported Gulf News. Petrol prices promptly...
Riyadh’s 2016 Budget Targets Deficit by Cutting Public Spending
Saudi Arabia has unveiled plans to lower its current budget deficit of $97.9b to $87b in 2016 by making government projects more efficient and cost-effective, cutting public spending by introducing reforms to energy s...
Nigeria Feels Squeeze of Oil Price Plunge, Africa Suffers Too
The halving of crude prices has struck at the heart of Nigeria’ state finances, reveals Bloomberg, with no facet of the country’s oil revenues left unscathed. This includes, it emerges, Nigeria’s sov...
Nigeria Takes Deregulation Advice from Private Sector Reformer
Dr Emmanuel Kachikwu, the new Director of the Nigerian National Petroleum Corporation (NNPC), called for the full deregulation of Nigeria’s oil and gas sector, reported Daily Post Nigeria. “Subsidy creates distortion ...
