Egyptian Oil And Gas Industry

744 Words3 Pages
The Egyptian oil and gas industry supplies vitality and key chemicals for homes, commercial enterprises, and transport, and subsequently assumes a key part in the Egyptian economy. It gives around 87% of Egypt 's essential vitality and records for around 35% of Egypt 's fare incomes (EIA, 2013). By the by, the amalgamation of considerable increment in local utilization of vitality, wasteful government appropriations on petroleum items, colossal spending plan deficiency, omnipresent assaults on gas pipelines and consistent political agitation, implies that Egypt oil and gas industry is confronting overflowing difficulties which will be felt for quite a long time to come. Egypt is the 63rd biggest send out economy on the planet and the 68th…show more content…
Its top imports are Refined Petroleum ($6.56B), Wheat ($2.52B), and Crude Petroleum ($1.96B) Egypt is the biggest oil maker in Africa outside of the Organization of the Petroleum Exporting Countries (OPEC) and the second-biggest regular gas maker on the mainland, behind Algeria. Egypt assumes an essential part in worldwide vitality markets through the operation of the Suez Canal and the Suez-Mediterranean (SUMED) Pipeline. The late turmoil in Egypt came to the oil and gas part by means of a progression of assaults on the Arab Gas Pipeline, which had transported normal gas to Jordan and Israel. Gas fares to both nations were essentially decreased in 2011. By April 2012, regular gas fares to Israel were completely halted (EIA, 2013). Besides, proceeded with challenges and distress prompted vitality deficiencies. As per the Oil and Gas Journal (OGJ), Egypt held 4.4 billion barrels of demonstrated oil saves as of January 1, 2015.6 EGPC spots Egypt 's official oil store evaluate marginally bring down at 4 billion barrels, of which 2.8 billion barrels is unrefined petroleum and 1.2 billion barrels is condensate. The Arab Gas Pipeline (AGP) starts in Egypt and join with Jordan, Syria, and Lebanon. In 2008, a leg augmentation of the AGP was fabricated that keeps running submerged from the beginning stage in al-Arish in Egypt to Ashkelon in Israel. The AGP had been subverted more than twelve times somewhere around 2011 and 2012, which brought about
Open Document