Egypt’s oil, gas imports down 14.8% in Q1 of 2023: CAPMAS

Egypt’s oil and gas imports have declined by 14.8 percent during the first quarter of 2023 to record $6.13 billion, compared to $7.2 billion in the same period at 2022, according to official statistics.

According to the Central Agency for Mobilisation and Statistics (CAPMAS), crude oil imports have decreased to $1.1billion, compared to $2.4 billion of the same period last year, to record $1.3 billon decline.

Regarding petroleum commodities total imports recorded $3.3 billion during January-June 2023 from $3.4 billion at same period in 2022, falling $136 million.

Natural gas imports stood at $1.2 billion compared to $937 million, increasing with $361 million. Imports of coal including all its types jumped to $379 million from $335 million to amount a rise of $43 million.

Ministry of Petroleum and Mineral Resources reported in December, that production of petroleum products totalled 79.50 million tons with crude oil and condensates amounting 27.8 million tons. Which led to a decrease in crude oil imports and other petroleum products.