Egypt Oil Ministry Gets $100 Million to Buy Additional Fuel

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.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.