Egypt hopes its recently-completed $8.5bn Suez Canal expansion project will boost transit revenues. Revenues stood at $3.4bn for the first eight months of 2015, down $185mn on the corresponding period last year (see table, p16). But August takings rose to $462mn, the highest monthly figure this year, amid record northbound volumes of both crude and diesel (see graph).
A record 2.29mn b/d of diesel was shipped northbound in August as Saudi Arabia ramped up capacity at two export refineries over the last 18 months, which produce transport fuels to Euro specifications. (CONTINUED - 228 WORDS)