Egyptian oil production down 2 percent

The monthly economic report issued by the Information Center of the Egyptian Cabinet of Ministers said that production of Egyptian oil decreased by 2.2% during the past 6 months compared to the same period last year.

The proceeds from the oil exports decreased by 7.9% and the production of the natural gas decreased by 2%. The total volume of oil production reached 31.7 million tons during the past 9 months, compared to 32.4 million tons during the same period last year.

The volume of oil used by the local market is 17.446 million tons compared to 17.480 million tons in the same period last year. The proceeds from the oil exports during the past nine months are $1.134 billion compared to $1.236 billion during the same period last year.