Egypt raised its estimate of the price of a barrel of oil in the current fiscal year budget by about 6.25% to $85, according to the semi-annual report on economic performance.
Egypt has launched an international tender to import approximately 740,000 tons of petroleum products next August, according to sources who spoke to Asharq Bloomberg.
The imported materials are divided into 400 thousand tons of diesel, 170 thousand tons of gasoline, and 170 thousand tons of butane.
Egypt Increased the quantities of gasoline imported in August by approximately 90% over what is usual in the first five months of the year, with the increase in demand and consumption in the summer months.
Egypt raised its estimate of the price of a barrel of oil in the current fiscal year budget by about 6.25% to $85, according to the semi-annual report on economic performance.
It also allocated about EGP 154.5 billion to support petroleum products in the budget for the current fiscal year 2024/2025, compared to EGP 119.2 billion in the previous year’s budget, an increase of 29.4%.
Recently in July, The Egyptian Ministry of Petroleum and Mineral Resources will soon receive two shipments of liquefied natural gas (LNG) at the Port of Sokhna. Each shipment has a capacity of approximately 145,000 tonnes, according to a government official who spoke to Al Arabiya Business.
These 2 shipments are expected to arrive within the next 10 days.
