Egypt’s oil exports rise to $407 mln in two months

Egyptian oil exports increased to $407 million during the first two months of 2018 from $385 million during the same period a year earlier, the state’s state-owned statics agency CAPMAS said Satuday.

“The value of crude oil exportsoil exportsoil exports in that period stood at $343 million,” CAPMAS further added

Meanwhile, Egypt’s non petroleum exports jumped 200 percent in the first two months of 2018, reaching $64 million, compared to $21 million in the same period of 2017, the the agency data showed. Egypt’s imports in the same period stood at $4.5 million.

Previous CAPMAS data showed that Egypt’s oil exports value decreased by 10 percent year-on-year to reach $208 million in October 2017, compared to $231 million in October 2016. The country’s oil imports value fell by 9.3 percent to record $411 million in October 2017, compared to $453 million in the same month of 2016.

Egypt’s Petroleum Ministry is planning to boost its production of gasoline, diesel, butane gas and jet fuel through the implementation of several projects to develop and expand refineries, with 8.3 billion pounds in investments. The projects would add 11.6 million tonnes of petroleum products in the coming four years.

Source: Egypt Today

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