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9 Information about the development of the Egyptian petroleum sector and its launch towards the world


Between today in 2021 and yesterday, 2011 and the challenges and tensions that followed, then stability and launch that started in 2014 and continues, seven years have passed since Egypt joined forces with its political leadership and governments, bearing together the responsibility of building the state and its steadfastness in the face of endless internal and external challenges. There are many challenges in providing the basic requirements of energy after 2011. Today, it has a surplus of natural gas for development and export, and it has expanded in all petroleum activities and infrastructure for the oil and gas sector to double the state's capabilities and capabilities in this sector in an unprecedented way.

 

 

The following are the most important economic indicators achieved by the petroleum sector, which were as follows:

 

1- Achieving a surplus in the petroleum trade balance during the first half of 2020/2021, about 3.2 billion pounds.

 

2- The petroleum sector achieved for the first time in many years a surplus in the trade balance in 2018/2019, amounting to about 9.9 billion pounds.

 

3- The petroleum sector has succeeded in increasing its gas production capacities to more than 7 billion cubic feet per day at present.

 

4- He succeeded in transforming the growth rate of the gas sector during the previous years from negative 11% to positive 25% in 2018/2019.

 

5 - Achieving the country's self-sufficiency in gas and resuming exports.


6- The oil and gas sector contributed in 2018/2019 by 27% of the country’s GDP. Despite the Corona virus pandemic, the sector was also able in the following fiscal year to contribute about 24% of the GDP.


7- The growth rate of the petroleum refining sector reached about 25% in 2019/2020, and this growth is expected to increase with the completion of the new refining capacity increase projects that are currently being implemented with investments of about 7 billion dollars, equivalent to about 108 billion pounds.

 

8- The petroleum sector succeeded in reducing the dues of foreign partners from $6.3 billion in 2011 to $850 million by the end of the fiscal year 2019/2020, with a decrease of more than 86%.

 

9 - Gas has been delivered to about 6.1 million housing units, representing about 49% of the total number of units to which natural gas has been delivered since the start of gas delivery activity in Egypt in 1981 (over a period of 40 years), amounting to about 12.4 million housing units.

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