Foreign companies to invest $4B in Egypt’s oil sector in FY 2024/2025

Wed, 24 Apr 2024 - 01:29 GMT

Egypt set a target to increase crude oil production by about 9 percent during FY2024/2025, to reach 637 thousand barrels per day up from 580 thousand barrels currently

Egypt raises fuel prices by LE 1

Thu, 21 Mar 2024 - 10:13 GMT

This comes after the increase was postponed multiple times.

Egypt raises fuel prices, keeps diesel unchanged

Fri, 03 Nov 2023 - 12:21 GMT

Minister of Petroleum, Tarek El Molla, issued the decision for the new pricing to be implemented from Friday morning.

Egypt raises diesel price by LE 1, keeps gasoline unchanged

Thu, 04 May 2023 - 10:09 GMT

This came during the meeting of the Egyptian Fuel Automatic Pricing Committee (FAPC) on Wednesday.

Egypt ranks 7th globally for lower selling price of gasoline: Report

Thu, 02 Mar 2023 - 12:46 GMT

Prices became, 95-octane gasoline for 1,503,000 pounds, 98-octane gasoline for 1,538,000 pounds, diesel for 1,448,000 pounds, and gas for 982,000 pounds.

Egypt's vehicle replacement to natural gas helps over 24K citizens: Minister

Sat, 05 Nov 2022 - 11:23 GMT

Egyptian Finance Minister Mohamed Maeet said the state works on increasing the number of beneficiaries of the presidential initiative aiming at replacing gasoline-powered vehicles that are manufactured 20 years ago by natural gas-operated ones.

Egypt mulls canceling circulation of Octane 80 gasoline

Sun, 17 Oct 2021 - 02:36 GMT

Mulla noted in a panel discussion held by the Egyptian Petroleum Association that Octane 80 is no longer considered a good-quality fuel.

'Egypt has the lowest gasoline prices in the region': Petroleum Ministry spox

Sun, 10 Oct 2021 - 09:41 GMT

Abdel Aziz explained that diesel prices have not been increased because any price rises can affect public transport fares and the costs of goods transportation.

Govt denies rumors on increasing prices of basic commodities due to increase of gasoline prices

Tue, 27 Apr 2021 - 01:02 GMT

The Ministry of Supply said that the news is void of truth, the center said in a statement on Tuesday.

Egypt's govt denies rumors on increasing prices of basic commodities due to increase of gasoline prices

Tue, 27 Apr 2021 - 11:41 GMT

The Ministry of Supply said that the news is void of truth, the center said in a statement on Tuesday.

Egypt keeps fuel prices unchanged until December

Wed, 07 Oct 2020 - 09:05 GMT

Egypt's Fuel Automatic Pricing Committee (FAPC) has decided at its meeting held after the end of September to keep gasoline and diesel prices in the local market unchanged till December.

Egypt keeps gasoline, diesel prices unchanged till September

Thu, 09 Jul 2020 - 09:38 GMT

Diesel fuel prices also remained untouched at LE 6.75 per litre.

Egypt to float 95 gasoline to international prices in March: Bloomberg

Tue, 25 Dec 2018 - 01:15 GMT

“That grade of gasoline is one which is no longer subsidized. It also plans to announce the mechanism for the other grades in June, after lifting the subsidies, to implement the move in September."

Supply worries lift oil prices as U.S. renews sanctions on Iran

Thu, 09 Aug 2018 - 08:53 GMT

Brent crude futures were up 20 cents, or 0.3 percent, at $72.48 barrel by 0644 GMT, following a decline of more than 3 percent on Wednesday.

Egypt raises fuel prices for 4th time as part of IMF deal

Sat, 16 Jun 2018 - 08:10 GMT

Egypt has raised fuel prices to meet IMF loan's terms that entail the complete removal of fuel subsidies.

Fuel prices push annual US consumer inflation to six-year high in May

Tue, 12 Jun 2018 - 10:10 GMT

Sharp increases in prices for gasoline, fuel oil, shelter and medical care helped send a key measure of US inflation to a six-year high in May.

Jordan freezes gasoline price hike after wave of protests

Sat, 02 Jun 2018 - 11:25 GMT

Jordan put an imminent increase in gasoline prices on hold on Friday after public anger about tax hikes recommended by the IMF spilled into the streets this week.

Gasoline and diesel consumption down 2-3%, subsidy bill hits LE 110B

Thu, 12 Apr 2018 - 03:10 GMT

The price of oil in the new budget is set at $67 per barrel, Minister of Finance said.

Gasoline, rents seen lifting U.S. monthly CPI; annual rates to slow

Wed, 14 Feb 2018 - 08:42 GMT

U.S. consumer prices likely increased solidly in January, boosted by rising gasoline and rents.

Egypt to boost its petrol production by 11M tons in 4 years

Tue, 06 Feb 2018 - 10:57 GMT

The Petroleum Ministry is executing 7 projects to develop and expand refineries, with LE 8.3 billion investments.