Recently published statistics by Egypt’s Ministry of Petroleum reveal that the nation’s petroleum consumption between July 2000 and May 2001 stood at 20.4 million tons.
This figure constitutes more than 59 percent of Egypt’s petroleum production over the same period, which totaled 34.3 million tons.
These figures reflect a decrease compared to the corresponding period of the previous year, when consumption stood at 20.8 million tons, and production at 36.4 million tons. This represents a two and five percent decrease, respectively.
Furthermore, during May 2001, petroleum production amounted to 2.8 million tons, while during May of the previous year, production reached 3.1 million tons, reflecting an 8.5 percent fall for the current year.
On the other hand, revenues from petroleum exports rose during the same period, from $11.7 million in May 2000 to $13.4 million, this past May, reflecting a 20 percent climb. –(Mena Report)
© 2001 Mena Report (www.menareport.com )