Egypt’s Petroleum Minister Says EGP60bn Annual Energy Revenues

Egyptian Petroleum Minister Sherif Ismail said the volume of the country’s revenues in energy sector don’t exceeded more than EGP60 billion annually, whereas the government pays nearly EGP365 billion in order to provide energy for citizens according to the global prices.

In statements to Amwal Al Ghad on Thursday, Ismail asserted on the importance of rationalization of energy uses and the necessary of raising the efficiency of energy uses as we consume more than 96% of the oil and natural gas and this is a depleted wealth.

Moreover, he explained that the large quantity of consumption need to transport into sophisticated and infrastructure network, stressing that the petroleum sector is working on several axes to provide energy throughout producing gas.