subsidies | Egypt Oil & Gas - Part 4
SABIC Unconcerned Over Iran’s Petchem Competition
Saudi Basic Industries Corp (SABIC), one of the world’s largest petrochemicals companies, downplayed the possible threat posed to Saudi Arabia’s petrochemicals industry from Iran’s reentry into the i...
El Molla: Egypt “Suffering” from Subsidies
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, AP reports. According to th...
Abdul Ghani: 50,000 New Subscribers Officially Registered
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 governorate...
Hossam Arafat: Subsidy Cuts Inevitable, Politics as Prime Determinant of World Oil Prices
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 produc...
Aramco Confident Saudi Can Ride Out Oil Price Crunch
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, Re...
Riyadh’s 2016 Budget Targets Deficit by Cutting Public Spending
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 s...
El Molla: Energy Subsidies Lower Due to Global Price Decline
Egypt spent EGP14b on petroleum subsidies in Q1 of the 2015-16 fiscal year, according to Petroleum Minister, Tarek El-Molla quoted by Ahram Online. The Minister compared these figures to the EGP18b spent during the Ju...
Oman Awaits Approval of Ambitious Tax, Subsidy Reforms
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, reported Arabian Business. The Council ...
