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End In Sight For Egypt’s Fuel Subsidies
...nce increased: after averaging $1= E£17.74 during the 2017-18 financial year it has been around $1= E£16.60 in recent weeks. Given that oil products are internationally-traded commodities priced in dollars, these prices largely determine the size of the country’s subsidy bill. Here Egypt has been ma...
Volume: 62Issue: 28Published at Fri, 12 Jul 2019 -
Middle East Downstream Eyes Bunkers Boost From IMO Rules
...ys. The IEA expects additional gasoil/diesel to come from the US, followed by the Middle East, Russia and China. Saudi Arabia has developed some refineries targeting overseas sales, exporting a record 516,000 b/d of diesel in 2017. Similarly, the UAE exported a record 92,000 b/d of diesel last year, al...
Volume: 61Issue: 28Published at Fri, 13 Jul 2018 -
Cairo Advances Energy Sector Privatizations
...nk of Egypt (CBE) have been making to reform the economy.” The IMF says the 2017-18 budget, which was passed largely intact last week, is a “very strong budget… it will place public debt on a clearly declining path to sustainable levels.” Ratings agency Fitch adds in a 12 July release that “Eg...
Volume: 60Issue: 28Published at Fri, 14 Jul 2017 -
Algeria Pushes New Refineries Beyond 2020, Fuel Deficit To Worsen
...spectively (see table). Biskra and Tiaret were part of an earlier four-refinery plan, with both initially due for 2017 start-up, to be followed by similarly sized projects at Ghardaia and Hassi Messaoud. Sonatrach started civil works at Biskra in 2012 and officially launched the project in 2013, saying it wo...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Kuwait Clarifies Al-Zour Plans, Iraq Projects Halted
...r “mid-year”. The Aramco-Sinopec Yasref refinery has a target start-up date of 30 September. Aramco’s Jazan refinery is now expected online in 2017 after a six-month delay in tendering a linked power project. UAE’s Ruwais Expansion was scheduled for 1Q14 start-up, but commissioning is now under way fo...
Volume: 57Issue: 28Published at Fri, 11 Jul 2014