Fuel | Egypt Oil & Gas - Part 8
Nigeria Spends $7b on Fuel Subsidies
Nigeria spent an estimated $35b as subsidy on petroleum products out of the $300b earned from crude oil over the course of 5 years since 2010. This amounts to approximately $7b annual expenditure on subsidies.
Kenya Dropped Petrol Prices
Kenya's Energy Regulatory Commission (ERC) announced an immediate drop in fuel rates that will extend until mid-October.
Nigeria Will Not Increase Fuel Prices
Nigeria's national oil company said the government has no immediate plans to increase gasoline prices, days after fuel marketers and Nigerian National Petroleum Corporation's (NNPC) management called for the removal ...
Misr Petroleum Pumped Fuel Supplies by 25%
Misr Petroleum's CEO, Mohamed Shaaban, stated that the company is increasing fuel and diesel pumping to its 1288 petrol stations by more than 25% of petroleum derivatives to cover growing demand.
Egypt’s Diesel Reserves to Cover 5 Days of Demand
Egyptian General Petroleum Corporation's Chairman, Tarek El Hadidi, stated that Egypt has enough diesel stored to cover five days of local demand, with import cargos arriving regularly. He added that Saudi Arabia's A ...
Transcorp Suspends Plans to Construct $1B Power Plant
Transnational Corporation of Nigeria Plc has decided to postpone plans to construct one of Nigeria’s biggest power plants
Egypt’s Cabinet Confirmed Fuel Exempted from VAT
The cabinet confirmed that Egypt’s petroleum based products are to be exempted from the value-added tax (VAT), which is yet to be presented to the parliament.
NNPC Raises Fuel Supply to Abuja, Other States
The fuel supply and distribution situation in Nigeria is gradually easing out after the Nigerian National Petroleum Corporation increased the distribution of Premium Motor Spirit (PMS), known as petrol.
