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Egyptians bear 70% of fuel prices through threefold price hikes in 2 years

To meet the demands of the IMF to grant Egypt the $12bn loan, curb the budget deficit, and to deal with the increasing inflation rate, fuel subsidies underwent non-recurrent stages to be phased out, toward being fully suspended in 2019 according to a subsequent 2018 statement for the Minister of Petroleum and Mineral Resources, Tarek …

Doaa A. Moneam

Petroleum ministry will continue subsidies reform programme: El-Molla

Egypt aims to attract more foreign investments within Egypt Vision 2030, amid the continuation of its subsidy reform programme, the minister of petroleum Tarek El-Molla said. It came during his speech at the American Chamber of Commerce (AmCham) conference on Wednesday, in the presence of the minister of communications Amr Talaat, president of AmCham Egypt …

Nevine Kamel

ANRPC to produce high-octane gasoline by next month

Alexandria National Refine and Petrochemical (ANRPC) plans to open its new project of high-octane gasoline production next month with $233m worth of investment. Minister of Petroleum and Mineral Resources Tarek El-Molla said the new project comes as part of the ministry’s current programme to increase domestic production of high-value petroleum products, especially gasoline and liquefied …

Daily News Egypt