|13 December, 2019

Egypt’s petroleum consumption declines 8mln tonnes in four years

Domestic consumption was 31mln tonnes during the year 2018/2019

Image used for illustrative purpose. A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018.

Image used for illustrative purpose. A diesel storage tank is seen at the Middle East Oil Refinery Company (MIDOR) in Alexandria, Egypt, November 7, 2018.

REUTERS/Amr Abdallah Dalsh

Cairo –  Egypt’s domestic petroleum consumption has declined in four years, as a result of the implementation of reforms to the pricing structure of petroleum products, according to petroleum minister Tarek El Molla.

Domestic consumption was 31 million tonnes during the year 2018/2019, compared with 39 million tonnes in the year 2015/2016, El Molla said in a Thursday statement.

This came as a result of the state’s reform programme, which reduced petroleum imports to 12 million tonnes, from 16 million tonnes.

Over the past years, challenges lied mainly in the steady growth of domestic demand, higher value of subsidies, and the need to ramp infrastructure development spending.

The minister’s remarks came during a visit to Zohr field, accompanied by a parliamentary delegation, including energy and environment committee members and executives of petroleum companies.

Source: Mubasher

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