Bloomberg News

Egypt Oil Ministry Gets $100 Million to Buy Additional Fuel

May 30, 2012

Egypt’s finance ministry said it had given the oil ministry an additional $100 million to buy petroleum products.

The cash infusion, announced late yesterday in a statement from the ministry, comes at a time when fuel shortages have stoked anger even as officials consider reducing subsidies on petroleum products as a way of cutting costs.

To contact the reporter on this story: Tarek El-Tablawy in Cairo at teltablawy@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden in Dubai at barden@bloomberg.net.


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