Fuel | Egypt Oil & Gas - Part 8
Kenya Saved $493m on Petroleum Imports
Kenya save more than $493m during the first half of 2016 on oil related imports due to low global petroleum prices, All Africa reported. In June, the east african country had spent about $915m on the year-to-date impo...
Nigeria Spends $7b on Fuel Subsidies
International Institute of Petroleum’s CEO and a former executive at the Nigerian National Petroleum Corporation (NNPC), Tim Okon, declared that Nigeria spent an estimated b as subsidy on petroleum products out ... Kenya Dropped Petrol Prices
Kenya’s Energy Regulatory Commission (ERC) announced an immediate drop in fuel rates that will extend until mid-October. The price dropped by $0.04 per liter for super petrol, to reach $0.90. The selling rate f...
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 t...
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, reported Al Mal...
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 Arabi...
Transcorp Suspends Plans to Construct $1B Power Plant
Transnational Corporation of Nigeria Plc (Transcorp) has decided to postpone plans to construct one of Nigeria’s biggest power plants. The decision comes as a consequence of the gas scarcity and the economic decline ...
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. Egypt’s fuel will not witness any price hikes, reported Ni...
