Production of oil, gas hikes in July, consumption declines

CAIRO – 1 October 2019: Production of oil and natural gas increased in July to 7.1 million tons, compared to 6.6 million tons in the same month of 2018, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

CAPMAS added in a report that the consumption of oil and natural gas declined to 6.6 million tons in July on a year-on-year basis.

The report revealed the decline in the imports of butane gas during the month of July, reaching 126,700 tons, compared to a rate of 176,000 tons during the same month of the previous year, with a decrease of 49,300 tons.

Consumption of butane decreased to 266,400 tons YoY and production dropped to 148,400 tons.

The report revealed that the average rate of production of diesel in Egypt last July reached 571,000 tons, with an average consumption of 1.1 million tons during the same month of the previous year. The rate of decline reached 100,000 tons during the month.

The average domestic consumption of natural gas decreased during July to 4.1 million tons, compared to an average consumption of 4.2 million tons during the same month of the previous year, according to the report, and the volume of consumption of petroleum products during July amounted to 2.4 million tons.

Over the past 5 years, the petroleum sector has been committed to reducing the quantities imported of the main petroleum products (gasoline, diesel and butane), in addition to the development of plants to achieve the strategic goal of turning Egypt into a hub for refining crude oil and trading petroleum products.