2024-05-02 11:49:41
A government official said that the Egyptian General Petroleum Corporation has contracted to import about 580 thousand tons of solar and cooking gas stoves for delivery in May 2024.
He added that the contracted quantities of diesel amount to about 400 thousand tons to meet the needs of the local market, as daily consumption reaches 41 thousand tons, equivalent to 1.230 million tons per month, while production approaches 28 thousand tons per day, equivalent to 840 thousand tons per month during the summer.
It was stated that contracts for butane gas (cooking gas) during May amounted to about 180 thousand tons, to meet consumption, which currently ranges between 320 and 330 thousand tons per month, so that the Authority directs total imports to areas far from the gas network.
According to data from the Egyptian Ministry of Petroleum, Egypt’s oil production last year amounted to about 74 million tons, including 28 million tons of crude oil and condensates, and about 45 million tons of natural gas.
The Egyptian Ministry of Petroleum stated in its 2023 harvest report that the state has made great strides in completing projects for oil refineries and new production units with investments of $7.3 billion. To produce high-quality petroleum products to contribute to securing the Egyptian market’s fuel needs and reducing imports.
The official pointed out that the Egyptian Petroleum Authority receives fuel shipments in batches and contracts are concluded at international prices at the time of signing the contracts.
He explained that the Authority obtains some facilities in payment for later periods, as the majority of monthly petroleum products are imported from the markets of “Saudi Arabia, Kuwait and the Emirates” in addition to Greece, while the Authority resorts to Iraq to import shipments of crude oil.
The Egyptian Ministry of Petroleum imported fuel shipments worth about $3.3 billion during the first quarter of the current year 2024, an increase of about 6% compared to the corresponding quarter of last year, which witnessed imports worth $3.1 billion.
He added that the fuel import bill for last March amounted to approximately $1.25 billion, an increase of about $150 million over the same month last year.
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2024-05-02 11:49:41