Oil Ministry sees 10% consumption increase in fuel and gas this year

The Oil Ministry expects domestic consumption of fuel to increase 10.2% y-o-y to 35.5 mn tonnes in FY2018-19, Oil Minister Tarek El Molla told Masrawy. Natural gas consumption is projected to increase 10.46% y-o-y this year. As Egypt’s concessions come online the ministry is looking to reducing its dependence on fuel in favor of natural gas by 4.87%, he added.