Egypt Spends Over $1.5B on Petroleum Products
Egypt spends over $1.5 billion monthly to secure local demand for petroleum products.
Petroleum Products | Egypt Oil & Gas - Part 12
Petroleum Production Rose by 1.55% YOY in July
Production of crude oil, condensates, and butane increased by around 1.55% year-on-year (YOY) in July 2018, producing 2.818 million tons compared to 2.775 million tons in July 2017.
Consumption of Petroleum Products to Rise by 10.24%
Domestic consumption of petroleum products is expected to rise by 10.24% in fiscal year (FY) 2018/19 to reach 35.5 million tons.
Egypt, ITFC Sign $2B Petroleum Finance Deal
The International Islamic Trade Finance Corporation (ITFC) has agreed to finance $2 billion worth of petroleum products, as a part of a larger $3 billion agreement with Egypt's Ministry of Investment to fund the i ...
Petroleum Production Drops by 2.56% YOY
Production of crude oil, condensates, and butane fell by 2.56% year-on-year (YOY) in June 2018, producing 2.63 million tons compared to 2.69 million tons in June 2017.
Petroleum Production Grows by 3% YOY
Egypt increased its production of crude oil, condensates, and butane by around 3% year-on-year in May 2018, producing 2.9 million tons compared to 2.8 million tons in May 2017.
CAPMAS: Fuel and Petrochemicals Exports Increase
The total value of Egypt’s fuel exports increased by $260 million year-on-year (YOY) in Q1 2018.
Egyptian Petroleum Products Consumption Falls 16% YoY
Egypt’s consumption of petroleum products fell by 15.97% year-on-year (YoY) to reach 2.815 million tons in March 2018, compared to 3.35 million tons in March 2018.
Egypt to Reach Petroleum Products Self-Sufficiency in 3 Years
Egypt will achieve self-sufficiency in petroleum products in three years, Egyptian Minister of Petroleum, Tarek El Molla, has announced.
El Molla: Egypt Aims For 5% Petroleum Products Import Rate
Egypt plans to develop refineries during the upcoming four years to decrease the import rate of petroleum products to 5%, compared to the current rate of 35%.
