Ministry of Finance | Egypt Oil & Gas

Maait: More Than 20,000 Citizens Benefitted from the Vehicles Replacement Initiative in 2021/22

Minister of Finance Mohamed Maait announced that more than 20,000 citizens have benefitted from the presidential initiative of replacing old vehicles with new ones that run on natural gas during the fiscal year (F ...

Ministry of Finance’s Debts to MOP Drop to EGP 92 B

The Ministry of Finance’s financial debts to the Ministry of Petroleum and Mineral Resources reached EGP 92 billion, up from EGP 110 billion within 6 months.

Egypt Spent EGP 56.5 M on Vehicles’ Conversion Since April: Maait

Egypt's state public treasury has spent around EGP 56.5 million green stimulus value on vehicles' conversion to CNG fueled ones since April 2021. Hence, the number of conversion applications meeting standards reac ...

Egypt Allocates EGP 2.1 B For Green Initiative Incentives

Egypt has allocated EGP 2.1 billion in the next fiscal year’s budget to finance the first phase of the green initiative, which aims to replace 250,000 vehicles to run on natural gas in the governorates of Cairo, G ...

Russia Signs Oil Production Agreement for Boosting Priobskoye Filed Production

Rosneft Company along with the Russian Ministry of Finance and the Ministry of Natural Resources and the Environment has signed an investment agreement for boosting oil production in the Priobskoye field in the fo ...

Madbouly Follows up on Natural Gas Stations’ Expansion

The Prime Minister, Mostafa Madbouly, met with the Ministers of Petroleum and Mineral Resources, Finance, and Tarde and Industry to review the executive situation of natural gas stations, affirming that the expans ...

Petroleum Sector Achieves EGP 20 B Surplus in Nine Months

The Deputy Minister of Finance for Financial Policies, Ahmed Kojak, announced that the petroleum sector achieved surplus in the state public budget exceeds EGP 20 billion during the first nine months of the curren ...

Egypt To Cut Petroleum Products Subsidies by 47%

The Ministry of Finance is cutting subsidies of petroleum products in the new draft budget project for fiscal year (FY) 2020/2021 by nearly 47%.

Protocols of Cooperation to Settle Decades-Old Financial Debts

 In an effort to end the financial debts accumulated for more than 30 years, the Ministries of Electricity and Renewable Resources, Petroleum and Mineral Resources, Finance, and the General Public Sector signed th ...

Electricity Ministry to Pay EGP 1.3 B Per Month for Fuel

The Ministry of Electricity has agreed to pay EGP 1.3 billion per month to the Ministry of Petroleum, in exchange for fuel supplies provided to the power generation plants. It has also paid EGP 35 billion of its a ...

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