Egypt multiplies crude oil imports in January, February

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Tue, 19 May 2020 - 01:18 GMT

A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

CAIRO – 19 May 2020: In light of the decline of oil prices, Egypt increased its crude oil imports in the first two months of 2020 as their size was $553.6 million in January and $548.7 million in February.

Oil imports were worth $121.5 million in January 2019 and $233.26 million in February 2019.

In February, the total fuel imports recorded $849.9 million declining by $105 million compared to February 2020. Oil products imports decreased by $ 392.18 million recording $183.9 down from $576.114 million. Also, Egypt's imports of coal declined by $35 million to become $1.35 million down from $36.918 million.

In the same month, Egyptian fuel exports achieved a slight increase of $51.8 million recording $637.78 million up from $586 million. However, crude oil exports were $92.59 million down from $206.3 million with a decline worth $113.76 million.

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