Egypt has spent EGP 126.3bn on oil products subsidies during the fiscal year (FY) 2013/2014, according to a US Energy Information Administration (EIA) report on Egypt’s energy released in June.
Egypt's President Abdel Fattah El-Sisi asked his government on Saturday to consider postponing a smart card system for subsidized fuel which was due to come into effect in two days, state media said
South African stocks edged lower on Wednesday, led by petrochemicals firm Sasol as brent crude for July slipped when investors adjusted their positions ahead of a key meeting of OPEC oil producers.
South Africa, which sets gasoline prices that fuel producers can charge, needs to ensure companies can recover the cost of upgrading their facilities to handle cleaner fuels, Chevron Corp.’s local unit said.
Nigeria's crippling fuel shortages are unlikely to ease any time soon and much-needed deregulation of the subsidised market would be a fraught process, the chief executive of energy company Sahara Group said on Wedne ...
Egypt will begin rolling out a smart card system for subsidised fuel from June 15, the head of the firm overseeing the project said, part of plans to reduce costly energy subsidies over time.
Gasoline prices are climbing again, pumped up by a rallying oil market and a seasonal switch to more expensive summer-blends, but motorists still are enjoying the cheapest springtime fuel in six years.
Fuel oil stocks stored in the oil hub of Singapore are the highest in nearly two years as soaring Russian supplies are diverted from Europe, threatening to pressure Asian prices of the product that have rallied 10 pe ...
Nigeria's main fuel marketers said late Thursday the government has yet to fulfill its pledge to settle Naira 60 billion ($315 million) in unpaid subsidy for gasoline imported in previous quarters, warning that this ...