(MENAFN - Daily News Egypt) The Ministry of Petroleum aims to increase the revenues of Egypt's oil exports by the end of the current fiscal year (FY) to $8.5bn compared to $7.7bn FY 2018/19.
Senior government sources told Daily News Egypt that the total quantities targeted for exports of crude oil, gas, petroleum products, and petrochemicals amount to 17.7m tonnes.
They added that the value of exports includes the foreign partner's share of crude oil by calculating the average price of the Gulf of Suez crude oil at $55 per barrel due to the lower prices of crude oil and petroleum products.
The Egyptian Natural Gas Holding Company (EGAS) has started to increase the amount of natural gas exported through the Idku liquefaction plant to about 1bn cubic feet per day (scf/day) compared to 300m scf/day last month.
