SH | Egypt Oil & Gas - Part 3

Around 6.2m Egyptians Applied for Fuel Smart Cards

Egyptians who applied for fuel smart cards until the 10th of March 2017 reached 6.2m citizens.

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.

Egypt to Reschedule Factories’ Petroleum Dues

The Egyptian Natural Gas Holding Company (EGAS) will hold a meeting with factories with late dues in order to reschedule payments.

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