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Egypt not cutting fuel subsidies before July 2018 - El Molla

Egypt is not considering an increase in fuel prices before 30 June 2018, at the end of the current fiscal year, and is planning to stop importing gas before the end of next year, Egypt’s oil minister Tarek El-Molla said at a press conference on Saturday. 285 more words

Oil & Gas

El Molla: Egypt gasoline consumption fell 4.2% in July-Sept

Gasoline consumption in Egypt fell by 4.2 percent and diesel consumption by 7.1 percent in the first quarter of the 2017-2018 fiscal year, which began in July, the oil minister said. 114 more words

Oil & Gas

Upstream: Egypt has turned a corner

Egypt’s decision to hike fuel prices is a bold measure that will help to settle outstanding debts to international oil companies that have faced payment delays since the revolution in 2011, writes Nassir Shirkhani. 227 more words

Oil & Gas

Egypt's currency devaluation doubles fuel subsidy bill to EGP 78 billion in nine months

Egypt’s government spent 78 billion Egyptian pounds ($4.32 billion) on fuel subsidies in the first nine months of the 2016-17 fiscal year, up from 41 billion in the same period of the previous year, Oil Minister Tarek al-Molla told Reuters. 49 more words

Oil & Gas