Egypt

Egypt to Import $1.18 Billion in Fuel and Gas to End Power Cuts

Published on : 2024-06-26

Prime Minister Dr. Mostafa Madbouly announced that Egypt will import USD 1.18 billion worth of mazut fuel oil and natural gas to end power cuts, especially during the ongoing heat waves. This measure aims to eliminate the need for load shedding before the end of July. A shipment of 300,000 tonnes of mazut worth USD 180 million has already been contracted and is expected to arrive in early July to enhance the country's strategic reserves.

Recently, the Ministries of Petroleum and Electricity extended power cuts across Egypt to three hours daily until June 29th. Dr. Madbouly stated that power cuts will cease by mid-July, with the suspension of load shedding to last for six weeks until early September. Additionally, he announced that starting June 30th, all shops must close by 10 PM, except for supermarkets and pharmacies, which can stay open until 1 AM.

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