Transfers to EDL Rose by 41.44% to stand at $1.63B by November 2018

Figures released by the Ministry of Finance show that transfers to EDL witnessed a significant yearly increase of 41.44% to reach $ 1.63B by November 2018.

In details “Payments to fuel and oil gas suppliers KPC and SPC” (which grasped 98.85% of the total amount) climbed by 47.05% to $ 1.61B by November 2018. This rise was mainly driven by a 36.52% higher average prices of crude oil from $52.90/barrel by November 2017 to $72.22/barrel by November 2018 and higher Volume of imported  fuel oil and gas oil by 5.60% and 12.20%   respectively, during the same period .

Transfers to Electricity Syria in Jan‐Nov 2018 were 72.93% lower than the amount paid in Jan‐November 2017 and reached $12.67M by November 2018.

Furthermore, EDL contributed 0.3% from a total oil bill of $1.61B in Jan‐Nov 2018, down from from its previous share of 2.20% from a total oil bill of $1.12B, in same period of 2017.

Out of the government’s primary expenditures, which reached $11.24B in the period Jan-November 2018, EDL transfers represented a share of 14.5% of the total compared to a share of 13% by November 2017 out of a total oil bill of $7.67B.

Contribution of EDL in the Total Oil Bill by November

Transfers to EDL Rose by 41.44% to stand at <img class=

Source: MoF

 

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