Egypt's petroleum imports decline 23.4 pct in 2019
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E-mail Xinhua, February 14, 2020
CAIRO, Feb. 13 (Xinhua) -- Egypt's imports of petroleum products decreased during 2019 to 9.4 billion U.S. dollars, while its petroleum exports increased to 4.9 billion U.S. dollars, Egypt's official statistics agency said on Thursday.
In a statement, the Central Agency for Public Mobilization and Statistics (CAMPAS) said Egypt's imports of petroleum products amounted to 9429 million U.S. dollars in 2019 compared to 12313 million U.S. dollars in 2018, a decrease of 23.4 percent.
Egypt's total exports of petroleum products amounted to about 4907 million U.S. dollars in 2019 compared to 4694 million U.S. dollars during 2018, an increase of 4.54 percent, CAMPAS added.
Egypt aims to become a regional hub for the trade of oil and liquefied natural gas after major discoveries were made in recent years, including the Zohr gas field in the Mediterranean which holds an estimated 30 trillion cubic feet of gas.
Since July 2014, Egypt has signed more than 82 gas and oil exploration deals with investors, with a minimum investment of about 16 billion dollars. Enditem
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