Cairo Struggles With Products Shortages
Cairo is struggling to deal with rising domestic consumption of oil products whilst paying down its dues to foreign oil firms, despite having received over $12bn in aid pledges from its Gulf allies since the turn of the year.
Egypt stepped up imports of LNG in recent months to meet domestic demand, and lessen the need to use costly liquid fuels in power plants. But reserves of LPG and gasoline are dwindling.
With the Egyptian pound having...