Latest in Tag: petroleum products Highlight

Latest in Tag: petroleum products

Egypt targets 26% subsidy cuts for petroleum products, 47% for electricity

The Egyptian government aims to cut petroleum subsidies by about 26%, and electricity subsidies by 47% in the draft budget for fiscal year (FY) 2018/19, according to Reuters. The government document allegedly obtained by the news agency showed that the value of subsidies in the new budget amounted to EGP 89.075bn, down from about EGP …

Mohamed Samir

Deficit in trade balance down by 3.1% in August: CAPMAS

During August, the deficit in the trade balance recorded EGP 37.8bn, compared to EGP 38.9bn in August 2015, a decrease of 3.1%, according to the Central Agency for Public Mobilization and Statistics’ (CAPMAS) monthly bulletin on foreign trade statistics. In a statement issued on Monday, CAPMAS noted that the deceleration happened because the value of …

Hisham Salah

Egyptian-Saudi tension: the honeymoon is reaching its end

I, like many others, was surprised by the sudden decision taken by Saudi Aramco to stop supplying Egypt’s needs of petroleum products, despite the agreement between Egypt and Saudi Arabia stating that the latter will secure Egypt’s requirements for petroleum products at 700,000 tonnes per month for five years. The value of the agreement between …

Hany Aboul Fotouh

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