*Cairo’s oil self-sufficiency target took a big blow in 2020 as crude output slid to a 13-year low 521,000 b/d. Including condensate the total oil figure of 601,000 b/d was at a 40-year low (see chart 1).
Egypt Oil Output Plumbs New 40-Year Low For 2020
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Charts
1: Egypt Oil* Output (‘000 b/d): All Regions Except Mediterranean And Sinai See 2020 Slump With Overall Output At 40-Year Low
2: Output* Fell In Each Of The Last Six Months Of 2020 With December's 571,000 b/d A 40-Year Low
3: Egypt's Rig Count Also Slumped In 2h 2020 As IOCs Axed Capex But December's Western Desert-Led Rebound Holds Out Hope That Output Gains May Follow
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