Egypt Considers Cutting Fuel Subsidies by a Further EGP 20 Billion

Egypt is considering whether to reduce fuel subsidies by EGP 20 billion ($2.64 billion) next fiscal year, but it needs to study the social implications before reaching a decision, the investment minister said on Thu ...

35% Savings on Petroleum Subsidies Due to Oil Prices Decline

Savings on petroleum product subsidies will reach an estimated 35% of the current value of EGP 100 billion for the FY 2014/2015 budget if current oil prices continue as is, Minister of Petroleum Sherif Ismail said.

Egypt Seeks to End Fuel Subsidies by 2018

Egypt may gradually scrap subsidies on oil products by 2018, introducing coupons for gasoline and diesel as part of the phaseout, the independent newspaper Al Masry Al Youm reported, citing unidentified officials.

Obama calls for Congress to vote on oil subsidies

A day after Republicans signaled possible compromise with the White House on energy issues, President Barack Obama called Thursday for Congress to vote in the coming weeks on ending billions of dollars in subsidies f ...

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