The Egyptian General Petroleum Corporation (EGPC) has uncovered a series of violations during extensive monitoring campaigns aimed at controlling the distribution of petroleum products and preventing market manipulation, as per a statement.

The Egyptian General Petroleum Corporation (EGPC) announced the results of its periodic inspection campaign of the petroleum products trading and distribution system

Minister of Electricity and Renewable Energy Mahmoud Esmat and Minister of Petroleum and Mineral Resources Karim Badawi discussed the latest developments and implemented measures to meet the rising energy demands

Prime Minister Mostafa Madbouly held a meeting to review Egypt’s readiness to secure sufficient supplies of petroleum products and natural gas, particularly for the electricity sector, ahead of peak summer consumption and amid heightened regional tensions following the Israeli military operation in Iran.

The Egyptian government has required foreign ships frequenting at Alexandria Port to use low-sulfur fuel, effective May 1, 2025.

Egypt is set to begin negotiations with the International Monetary Fund (IMF) soon, aiming to extend the timeline for implementing fuel and electricity subsidy cuts.

The recent fuel price increases imposed by the Egyptian government will not be reflected on the price of subsidized bread, Minister of Supply and Internal Trade Sherif Farouk stated.

The Egyptian government is expected to achieve EGP 80 billion in fuel savings by the end of the current fiscal year (FY) following the recent hike in fuel prices by 11% to 17%.

The Egyptian government will not hike fuel prices further within the coming six months, Prime Minister Moustafa Madbouly stated in a press conference during his visit to Minya on October 19th.

The Egyptian government has obliged foreign yachts to pay for fuel at the global price, in favor of the Egyptian General Petroleum Corporation (EPPC).

Egypt’s fuel imports rose 11.8% year on year (YoY) during the first nine months of 2024, valuing at $10.5 billion from $9.4 billion.

EgyptAir has fully paid off its 13-year accumulative debts of EGP 10 billion, owed to the Egyptian General Petroleum Corporation (EGPC), at the end of the elapsed fiscal year (FY) 2023/2024.

The Egyptian Ministry of Petroleum and Mineral Resources has decided to raise fuel prices in the local market.

Subsidies for petroleum products in Egypt surpassed EGP 100 billion ($2 billion) in the first 10 months of the current fiscal year (FY) 2023/2024.

Egyptian Prime Minister Mostafa Madbouly has assigned Ministers of Electricity and Petroleum to study the possibility of ending the electricity load reduction plan by November or December at the latest.

Egypt is considering importing liquefied natural gas (LNG) to avoid fuel shortfalls during the summer, although the current tensions in the Red Sea pose a challenge.