Oil subsidies in cost Egypt $30 million a day

Oil subsidies in cost Egypt $30 million a day
2.5 5

Published February 4th, 2013 - 13:41 GMT via SyndiGate.info

Rate Article:

 
PRINT Send Mail
comment (0)
Fuel subsidies in Egypt cost the government  $30 million daily, according to the Minister of Petroleum
Fuel subsidies in Egypt cost the government $30 million daily, according to the Minister of Petroleum
Follow >
Click here to add Osama Kamal as an alert
Osama Kamal
,
Click here to add Suez Oil Processing Company as an alert
Suez Oil Processing Company

Egypt's government subsidizes gas oil by around $30 million daily, Minister of Petroleum Osama Kamal said on Sunday.

Daily local consumption of gas oil exceeds 35 thousand tons, the minister said, adding that this amount is sold for 35 million pounds, although its actual cost is 35 million USD.

During his visit to Suez Oil Processing Company (SOPC) on Sunday, the minister stated that the shortage in gas oil stems from the behaviour of the people because consumption surpasses production.

The ministry has taken strict measures to defy attempts to smuggle gas oil, Kamal said.

 

 

Advertisement

All rights reserved 2013 Aswat Masriya ©

Add a new comment

 avatar