JANUARY 17, 2016 / ENERGY EGYPTDuring the previous fiscal year (FY) 2014/2015, the oil and gas demand increased by 0.5m tonnes to a total of 73m tonnes. The share of demanded oil was 38m tonnes, of which 36% was fuel oil, 36% was gas oil, 16% gasoline, and 11% LPG.
The Egyptian government has been taking several steps to manage the fuel shortage and ameliorate the investment environment for international foreign partners. In previous announcements, Minister of Petroleum Tarek El-Molla said the ministry is aiming to secure the local demand with reasonable prices. He introduced several measures through which the government can follow through on its goals. Daily News Egypt exclusively illustrates the Petroleum Ministry’s plan for energy security and financial sustainability and reviews the ministry’s prediction for the demand of oil and gas for the next five years.
