Egyptian Butane Imports Drops by 23.17% YOY
Egyptian butane imports fell by 23.17% YOY, reaching 181,000 tons in December 2018 compared to 235,600 imported in December 2017.
Egyptian butane imports fell by 23.17% YOY, reaching 181,000 tons in December 2018 compared to 235,600 imported in December 2017.
Iraqi crude oil cargoes contribute to the local market's fuel demands, preventing bottlenecks, Tarek El Molla, Minister of Petroleum, noted.
Egypt exported petroleum products for $3.1 billion within a year, of which $0.5 billion came from fueling ships and planes.
Egyptian butane output grew by 12.42% YOY, reaching 153,000 tons in November 2018 compared to 136,100 produced in November 2017.
Benzene, diesel and butane are the most imported fuels due to local consumption.
The country's exports did not have any amounts sent through pipelines in fiscal year (FY) 2017/18.
Egypt's petroleum trade deficit dropped by 29% year-on-year (YOY) in Q1 of fiscal year (FY) 2018/19, recording -$688.1 million, compared to -$970.4 million in same period of 2017/18.
Halting the imports will be achievable as Egypt is conducted several expansion projects in refineries, including Middle East Oil Refinery (Midor) and Egyptian Refining Company (ERC).
Egyptian butane imports decreased by 40.34% YOY reaching 126,000 tons in October 2018, compared to 211,200 in October 2017.
Benzene, diesel and butane are the most imported petroleum products.