Petroleum Production Grows by 3% YOY

Egypt increased its production of crude oil, condensates, and butane by around 3% year-on-year in May 2018, producing 2.9 million tons compared to 2.8 million tons in May 2017, Egypt Oil & Gas reports.

Statistics published by the Central Agency for Public Mobilization and Statistics (CAPMAS) reveal that consumption of petroleum products in Egypt dropped by around 2.23% recording 2.94 million tons in May 2018, from the 3 million tons consumed in the same month in 2017.

At the end of August, Abed Ezz El Regal, head of the Egyptian General Petroleum Corporation (EGPC), told Amwal Al Ghad that domestic butane production covers more than half of the market’s needs.

Speaking following Eid al-Adha, El Regal said that domestic production was providing around 8,500 tons of butane per day, more than 50% of the estimated 16,000-tons-per-day consumption rate.

Egypt Oil & Gas Contribution Time: 03-Sep-2018 11:01 (GMT)
Egypt Oil & Gas Last Update Time: 03-Sep-2018 11:01 (GMT)