Cairo – Mubasher: Egypt's spending on petroleum subsidies reached EGP 51 billion in the fiscal year 2015-2016, said Minister of Petroleum, Tareq Al-Mula.

Egypt has incurred costs of nearly EGP 95.3 billion to arrange the local market needs of petroleum products, added Mula, noting the revenues generated from domestic sales amounted to EGP 44.3 billion in 2015-2016.

The petroleum sector has supplied the local market with 75.3 million tons of petroleum and gas products in 2015-2016, in addition to providing the electricity sector with all their fuel needs.