Egypt’s total fuel exports between January and March (Q1) 2018 increased to $1.225bn from $964m during the same period of 2017, an increase of approximately $260m.
The Central Agency for Public Mobilisation and Statistics (CAPMAS) said in its latest report that the total exports of crude oil during the first three months of 2018 reached $476m, versus $554m during the year-prior period, a decline of $77.9m.
Petroleum product exports during the first quarter of 2018 reached about $93.6m, while exports of petroleum products during the first quarter of 2017 reached $47.2m, an increase of about $46.4m.
In terms of coal, total exports of various kinds amounted to about $38m compared with $18m in Q1 2017, an increase of $19.8m.
The Ministry of Petroleum plans to achieve self-sufficiency in petroleum products and natural gas during the next two years as new fields and wells enter production, including Zohr and North Alexandria.
In previous statements, the petroleum minister stressed the government’s ability to meet the needs of the country’s oil consumption by 2019, thereby reducing imports from abroad in hard currency.