Fuel | Egypt Oil & Gas - Part 13
Nigeria’s Buhari Advised to End Fuel Subsidy
Nigeria’s new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria’s four refineries, senior sources in his party told Reuters on Su...
Egypt Earmarks EGP 61bn for Fuel Subsidies
Egypt’s draft 2015/2016 budget earmarks 61 billion Egyptian pounds ($8 billion) for fuel product subsidies, Tarek El Molla, chairman of state-run Egyptian General Petroleum Corp (EGPC), said in a statement on Sa...
Egypt Spent EGP 126.3bn in Petroleum Subsidies in 2013/14
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. The country, which is t...
Fuel Subsidy Card Posponed
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. “The ...
South Africa’s Stocks Fall and Petrochemicals Follow
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. Shares in Sasol, wh...
Chevron Wants to Share $1 Billion in South Africa Refinery Updates
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. “Petroleu...
Removal of Nigeria’s oil Subsidies Will Be a Challenge
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 ...
Nigeria Slashes 2015 Fuel Subsidy Due to Price Slide
Nigeria will slash petrol subsidies by 90 percent this year because government revenues have been hit by the slump in oil prices. The government had said it would gradually phase out fuel subsidies which are a signifi...
