Fuel Prices to Increase by 25%

• Sunday, 16th October 2016
• by Sarah Samir

An official with the  Egyptian government sated that Egypt will lift fuel subsidies and subsequently increase selling prices of petroleum derivatives by 20% to 25%. He estimated that the government will implement the ...

Nigerian President Rejects Currency Devaluation

• Monday, 22nd February 2016
• by Egypt Oil & Gas

Nigeria’s President, Muhammadu Buhari, has reiterated that the country will not devalue its national currency, the naira, in spite of the fact that it has dropped on the secondary market to the level of 360 per ...

India to Spend all $4.5b Budgeted for Petroleum Subsidies despite Oil Plunge

• Tuesday, 12th January 2016
• by Egypt Oil & Gas

India is likely to spend all of its $4.5b originally earmarked for petroleum subsidies for the year through March, despite having budgeted for $70 a barrel rude that now costs around $30, two unnamed state officials t...

35% Savings on Petroleum Subsidies Due to Oil Prices Decline

• Monday, 12th January 2015
• by Egypt Oil & Gas

Savings on petroleum product subsidies will reach an estimated 35% of the current value of EGP 100 billion for the FY 2014/2015 budget if current oil prices continue as is, Minister of Petroleum Sherif Ismail said in ...