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المصري اليوم
Former Petroleum Minister: Rising imports due to local oil decline
Osama Kamal, the former Minister of Petroleum, confirmed that the decline in domestic oil and gas production in Egypt has led the sector to revert to hedging policies by importing around 35 million tons of petroleum products out of the total annual needs of approximately 80 million tons. Liquefied petroleum gas (LPG), diesel, and natural gas are at the top of Egypt's petroleum imports to bridge the gap between production and demand. He explained that the global rise in energy prices has directly impacted the cost of goods, emphasizing the importance of diversifying energy sources and boosting domestic production to counteract fluctuations in the international market.
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