Egypt Spent EGP 14b in Fuel Subsidies
Tuesday, 1st November 2016
Egypt's petroleum subsidies reached EGP 14b in the first quarter of currently fiscal year 2016/2017, which started in July. This came as a result that Brent is trading at a higher price than the $40/b used in state budget calculations.
Oil Expert: IMF Loan is a Trap
Monday, 8th August 2016
'The International Monetary Fund (IMF) is a trap meant to drown Egypt in foreign loans and if Egypt accepts it, the country may soon declare bankruptcy,' said Ibrahim Zahran, a petroleum expert, in an exclusive interview with Egypt Oil&Gas.
Petroleum Prices to Increase before FY 2015/16
Monday, 2nd March 2015
Egypt's government aims to increase the prices of petroleum products before fiscal year 2015/16, according to Al-Mal newspaper. The decision represents the second phase of the five-year plan for the gradual reduction of energy subsidies.