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Tag: Oil Price
Oil Price

With high oil price, Egypt may be still be looking at a fuel hedge – Enterprise

Posted: October 9, 2018 at 3:28 pm   /   Oil & Gas

With the price of oil stubbornly high, the Madbouly government may be looking at a fuel hedge after all. The cabinet of Prime Minister Mostafa Madbouly is drafting a policy change that would allow the Finance Ministry to move ahead with a hedging strategy to shield the state budget against the rising price of oil […]

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Egypt’s fuel subsidy bill may overshoot to EGP 100 billion in FY 2018/19

Posted: October 4, 2018 at 1:39 pm   /   Oil & Gas

Enterprise: Fuel subsidy bill could overshoot to EGP 100 bn in FY2018-19. Higher-than-forecast oil prices will could see Egypt’s fuel subsidy bill FY2018-19 jump to EGP 100 billion, up from USD 89 billion now in the budget, a government source told Enterprise yesterday. Compounding the issue: The potential for strain on the EGP from a […]

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Oil price rally threatens to derail Egypt’s deficit reduction plans

Posted: October 3, 2018 at 3:01 pm   /   Oil & Gas

Global oil rally threatens to derail deficit reduction plans, change inflation outlook: The rally in global oil prices threatens to derail Egypt’s budget deficit target of 8.4% this fiscal year, Ahmed Feteha writes for Bloomberg. Every USD 10 increase in oil prices over the USD 67/bbl set in the FY2018-19 budget adds USD 1-1.2 billion […]

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Egypt postpones plan for oil price hedging contracts – Finance Ministry

Posted: September 26, 2018 at 5:04 pm   /   Oil & Gas

Finance Ministry shelves fuel hedging plan, shrugging off rising oil prices: The Finance Ministry has officially decided to shelve a plan to hedge against rising oil prices, Minister Mohamed Maait said yesterday. Officials had suggested earlier this month that the program might be shelved if oil prices were to stabilize, and Maait’s remarks come after […]

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Egypt signs oil price hedging contracts with two banks – official

Posted: September 5, 2018 at 12:06 pm   /   Oil & Gas

Egypt has signed contracts with two global banks to hedge against fluctuating global oil prices, a senior government official told Reuters on Tuesday. Egypt has estimated an average oil price of $67 per barrel in its full-year 2018-2019 budget while the current price of Brent crude is $79. “We have signed insurance contracts against fluctuating […]

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Eni CEO Claudio Descalzi: Egypt can be one of the solutions for European energy security

Posted: August 5, 2016 at 10:09 pm   /   Oil & Gas

The following is a condensed and edited interview with Eni CEO Claudio Descalzi from Bloomberg Businessweek. How have you responded to the sharp decline in crude oil prices? Fortunately we had a strategy to own conventional assets, which means a very low cost and very low break-even price. At the moment we have one of […]

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Apache starts deploying additional capital as oil prices improve

Posted: August 5, 2016 at 9:37 pm   /   Oil & Gas

Oil and gas producer Apache Corp said on Thursday it had started deploying additional capital and expected spending this year to be at the higher end of its forecast range, given “modest signs of improvement” in oil prices. Apache said it expected to spend at the high end of its 2016 capital forecast of $1.4 […]

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Infographic: The Volatile History of Crude Oil Markets (Visual Capitalist)

Posted: July 15, 2016 at 3:46 pm   /   Oil & Gas

Crude oil is the world’s most actively traded commodity, and oil-related trades are a staple for traders, hedgers, investors around the globe. The below infographic, put together by Aspect, covers the history of crude oil trading, while also highlighting the major events that have shaped the landscape of the oil market as we know it […]

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Infographic: Why oil prices fluctuate (Jones Oil)

Posted: June 11, 2016 at 3:30 pm   /   Oil & Gas

Oil goes up, it goes down. Many people fail to engage, or have negative opinions, because they don’t understand what drives the price of oil, or how it affects the masses. As with all commodities, supply and demand plays a big part in oil prices. Oil peaked in 2008, but the subsequent global downturn saw […]

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