subsidies | Egypt Oil & Gas - Part 2
Egypt Energy Debts Reach EGP 800B
Debts owed by the Egyptian energy sector have reached around EGP 800 billion, the Egyptian Minister of Finance, Amr El Garhy, has said, according to Amwal Al Ghad. El Garhy pointed out that new hydrocarbon discoveries...
Egypt Plans Energy Subsidies Reduction
The Egyptian government plans to reduce subsidies of petroleum products by 26% and electricity subsidies by 47% in the annual budget for the 2018/2019 fiscal year (FY), Amwal Al Ghad reported. The government aims to c...
IMF Recommends Further Cuts of Fuel Subsidies
Eliminating most of the fuel subsidies is a key recommendation of the International Monetary Fund’s (IMF) recent report on Egypt, which showed progress in many macroeconomic indicators, Egypt Oil & Gas reports. Th... Electricity Receives EGP 3 B from Subsidies Allocations
The Egyptian Ministry of Electricity and Renewable Energy received EGP 3 billion late December as a part of the amounts allocated for electricity subsidies, Al Mal News reports. A source at the ministry stated that th...
Egypt Spent EGP 23.8 B on Fuel Subsidies in Q1 2017/2018
Egypt has spent a total of EGP 23.8 billion on the subsidies of different petroleum products during the first quarter (Q1) of fiscal year (FY) 2017/2018, announced Egyptian Minister of Petroleum and Mineral Resources,...
Abu Kir Fertilizer to Decrease Profitability
The recent Cabinet decision to cut fuel subsidies obliged Abu Kir Fertilizers Company to decrease the prices of its products, the company’s Head, Saad Abu El Maati, stated, according to Al Mal News. “Any i...
Diesel Subsidies Reach EGP 150m Following Recent Hike
Diesel subsidies’ cost reached around EGP 150m per day following the recent fuel price increase as every 1 litre of diesel is subsidised by EGP3, Deputy Head of the Egyptian General Petroleum Corporation (EGPC),... Cabinet Explains Consequences of Fuel Price Increase
The Egyptian Cabinet issued a report explaining its decision to increase fuel prices and how it affects consumers, reported Al Mal News. While the fuel prices hike will affect low-income citizens by not more than 10%,... 
