Egyptian Petroleum Minister, Tarek El Molla, said that Egypt is “suffering” from fuel subsidies and that funding for subsidies are better spent on other areas, such as health and education.
Khaled Abdul Ghani, the project director for the fuel subsidy cards at e-Finance told Egypt Oil & Gas that 50,000 new subscribers were registered prior to the actual application of fuel stations in the governorates, ...
Head of the General Division of Petroleum Materials, Hossam Arafat, told Egypt Oil & Gas that the reduction of subsidies on petroleum products was inevitable and had already begun in July 2014, as petroleum products ...
Saudi's state oil company, Aramco stated that Riyadh had the capacity and was better equipped to wait out current low oil prices compared to other oil producers, while projecting a more stable market in 2016.
Saudi Arabia has unveiled plans to lower its current budget deficit of $97.9b to $87b in 2016 by making government projects more efficient and cost-effective, cutting public spending by introducing reforms to energy ...
Oman's top advisory body, the Shura Council, has voted for the biggest increase in corporate taxes in many years aimed at offsetting a budget deficit over oil price slump.