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EGPC has had to organize record gasoline imports to tackle a double whammy of record demand and reduced output from Egypt’s refiners, according to the latest data from the Joint Organizations Data Initiative (Jodi). Yet despite the state oil firm’s efforts, there have been gasoline shortages.
Egypt’s gasoline demand reached a new peak of 159,000 b/d in July, while refineries’ output fell to 65,000 b/d. These levels compare with average demand of 147,000 b/d in the first half of 2015 and average gasoline output of 75,000 b/d in the same period.
The gasoline slide is not matched by a notable decline in overall refining volumes: refinery intake averaged 513,000 b/d in July, which is not far short of the 526,000 b/d averaged in H1 2015. Hence, the gasoline production slide could be attributable to problems in gasoline units. It could also be attributable to some degree to refiners trying to maximize production of diesel at the expense of gasoline: diesel output was 163,000 b/d in July, compared with 149,000 b/d in H1 2015. Diesel demand has also hit a new high – 303,000 b/d in July – although diesel imports fell from a record 196,000 b/d in June to 143,000 b/d in July. (CONTINUED - 626 WORDS)
DATA INSIDE THIS ARTICLE
|table||Egypt Official Crude & Oil Products Output & Demand (‘000 B/D)|