fuel subsidies | Egypt Oil & Gas

Nigeria Pays $14 MM for Fuel in June, Despite Subsidy Removal

Nigeria’s state-owned oil company, Nigerian National Petroleum Corporation (NNPC), recorded a $14 million cost for fuel in June, months after it changed its pricing method in an effort to eliminate subsidies.

Egypt’s Biggest Budget Sees EGP 52.9 B Petroleum Subsidies

Petroleum product subsidies have been decreased by nearly 40% to EGP 52.9 billion in the public budget for fiscal year 2019/2020.

Egypt Pays EGP 60.1 B in Fuel Subsidies in 9 Months

Fuel subsidies cost thus decreased by 28.45% compared to the EGP 84 billion paid in the first nine months of FY 2017/18.

Fuel Subsidy Bill Drops by 19.1% in FY 2018/19

Egypt’s fuel subsidy bill dropped by 19.1% to reach EGP 89.075 million in fiscal year FY 2018/19, compared to EGP 110.148 million in FY 2017/18, Egypt’s Financial Statement for FY 2018/19 revealed.

Fuel Subsidies Cost $2.42 B in FY 2018/19: El Molla

Egypt’s fuel subsidies costed around $2.42 billion in H1 FY 2018/19, down by 14.7% compared to the same period in FY 2017/18.

Egypt Spends EGP 45B on Fuel Subsidies in H1 2018/19

Egypt has spent around EGP 45 billion on fuel subsidies during the first half of fiscal year (FY) 2018/19, Minister of Petroleum Tarek El Molla has said.

More Fuel Subsidy Cuts Coming in mid-2019: Fitch Solutions

Egypt will make further cuts to fuel and energy subsidies in mid-2019, a Fitch Solutions report predicted.

El Molla Requests Budget Increase for Fuel Subsidies

Egyptian President Abdel Fattah El Sisi has revealed that petroleum minister Tarek El Molla requested increasing fuel subsidy allocations to $125 billion.

Egypt’s Budget Deficit Falls to 9.8% in FY 2017/18

The Egyptian budget deficit for fiscal year (FY) 2017/18 was 9.8% of gross domestic product (GDP), a decrease from 10.9% the previous year, achieving a primary fiscal surplus for the first time in 15 years, deputy ...

Egyptian Government Increases Gas Prices By Up to 75%

Egypt will raise natural gas prices for households and businesses by up to 75% from the beginning of August.

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