Nigeria: Subsidy Removal will Attract Foreign Investment

• Thursday, 19th May 2016
• by Egypt Oil & Gas

Nigeria's Minister of State for Petroleum Resources, Ibe Kachikwu, defended the new fuel price regime saying it would encourage massive investment in infrastructure by attracting Foreign Direct Investment.

Nigeria Lifts Gas Subsidy, Fuel Nearly Doubles Price

• Thursday, 12th May 2016
• by Egypt Oil & Gas

Nigeria's government announced it is lifting a controversial subsidy on gas, nearly doubling the price amid a massive fuel shortage and militant attacks on oil installations in Africa's biggest petroleum producer.

Former Minister: Official Cost for Liter of Gasoline EGP7

• Sunday, 20th December 2015
• by Egypt Oil & Gas

The official cost for a liter of gasoline in Egypt is EGP7, said Osama Kamal, the former Minister of Petroleum.

EC Extends Restrictions on China’s Solar Panel Import

• Sunday, 6th December 2015
• by Egypt Oil & Gas

The European Commission (EC) has extended restrictions on Chinese solar panels import to Europe over a pending review of market protection measures as set by the 2013 EC arrangement, due to expire by end 2015.

Nigeria Approves $2.1b Payment to Oil Marketers

• Thursday, 5th November 2015
• by Egypt Oil & Gas

Nigeria's government has approved the payment of $2.1b to oil marketers as outstanding payment for fuel subsidy claims, the state-run Nigerian National Petroleum Corporation has announced.

Energy Subsidies to Decrease by 5% This Year

• Sunday, 20th September 2015
• by Egypt Oil & Gas

A source at the Petroleum Ministry told Egypt Oil & Gas that the Egyptian government only aims to reduce energy subsidies by 5% during the current budget of this fiscal year. The percentage is set at a lower than exp ...

Finance Minister: Massive Gas Find Will Not Affect Subsidy Reform

• Tuesday, 8th September 2015
• by Egypt Oil & Gas

Al Arabiya quoted Hany Kadry Dimian, the Egyptian finance minister, saying that the discovery of a massive new offshore natural gas field will not slow down his country's efforts to slash energy subsidies. The statem ...

Nigeria’s Buhari Advised to End Fuel Subsidy

• Monday, 22nd June 2015
• by Egypt Oil & Gas

Nigeria's new president, Muhammadu Buhari, has been advised by his transition committee to end a fuel subsidy program and privatize Nigeria's four refineries, senior sources in his party told Reuters on Sunday.

Egypt Considers Cutting Fuel Subsidies by a Further EGP 20 Billion

• Monday, 2nd February 2015
• by Egypt Oil & Gas

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 ...