SH | Egypt Oil & Gas - Part 3
USD Price Increases Petroleum Import Bills
USD Exchange rate increases diesel and benzene import bills by $50m per day.
Fuel Smart Card System to Provide10 Litres a Day
Sherif's Cabinet agreed on allocating ten liters of subsidized fuel a day for each citizen registered in the smart card system.
Egypt’s Cabinet to Cut Energy Subsidies by 10% in 2017-2018
Egypt's cabinet considers cutting energy subsidies by 10% in the next fiscal year (2017-2018).
EGPC to Allocate 400,000 Subsidized LPG Cylinders
Tarek El Hadidi said that EGPC decided to allocate 400,000 subsided LPG cylinder to slums all over Egypt.
Egypt to Import Crude Oil from Libya
The Egyptian General Petroleum Corporation (EGPC) stated that negotiations with Libya to import 1mb/m of crude oil for a year are taking place.
Egyptian Cabinet Mulls Adjusting Natural Gas Prices
The Egyptian Cabinet headed by Eng. Sherif Ismail, is considering adjusting natural gas prices of some agreements signed with foreign oil companies operating in the Egyptian petroleum sector.
Petroleum Air Services to Increase Helicopter Fleet
PAS is targeting an increase in its helicopter fleet to match the research and exploration in deep water, which represents the future of exploration in Egypt.
Egypt Aims to Reschedule Debt Payment to IOCs in 2017
Egypt's PM Sherif Ismail's cabinet wants to reschedule the debts to be paid to foreign oil companies operating in the Egyptian sector during 2017 in order to be able to pay out the entire debt by 2019.
