Egypt oil, gas consumption falls 1.2% in FY2017/18

Egypt’s consumption of petroleum products and natural gas declined 1.2 percent to reach 79.2 million tonnes during the financial year 2017/2018.

The country’s consumption of petroleum products reached 34.4 million tonnes in financial year 2017/2018, compared with 37.8 million tonnes a year earlier, according to Youm7.

Last January, Egypt’s Oil Minister Tarek el-Molla said that a host of investors and global oil firms were expected to enter into agreements with the Egyptian government for gas and oil explorations in the Red Sea area in 2019.