Transfers to EDL Rose by 44.1% to $521.73M by April 2018

According to the Ministry of Finance, transfers to EDL witnessed a significant yearly increase of 44.1% to reach $ 521.73M by April 2018.

In details “Payments to fuel and oil gas suppliers KPC and Sonatrach” (which grasp 96.83% of the total amount) climbed by 41.4% to $505.18M by April 2018. In fact, the rise can be attributed to the increase in the average price of crude oil, which rose from $53.43/barrel by April 2017 to $68.90/barrel by April 2018. As for the volume, the quantity of Fuel oil and Gas oil imported grew by 22.07% and 6.67% respectively, by April 2018.

It is worth mentioning that this year an amount of $12.67M was paid as “Transfers to Electricity Syria”.

Moreover, EDL’s contributed 0.4% of the cost of total oil bill ($ 507.46M) down from its previous share of 2.8% ($ 365.5 M) in same period of 2017.

Out of the government’s primary expenditures, which reached $4.17B in the period Jan-April 2018, EDL transfers represented a share of 12.5% of the total compared to a share of 11.8% by April 2017.

Contribution of EDL in the Total Oil Bill by April

EDL

Source: MoF

 

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