According to the Ministry of Finance (MoF), transfers to EDL reached $210.21M by April 2016, 45.6% lower than its level in the same period of 2015.
This fall in value can be attributed to the 46% year-on-year (y-o-y) decrease in payments to fuel and oil gas suppliers KPC and Sonatrach to $204.72M by April 2016. The lower reimbursement for gas and fuel purchase resulted from the lower average prices of crude oil that dropped 34.06% y-o-y to $36.18/barrel by April 2016, compared to $54.86/barrel in 2015. As for quantity, the volume of imported fuel rose by 9.81% y-o-y, while the volume of gas oil decreased by 0.53% y-o-y.
Furthermore, EDL’s contribution t increased to 9.5% of the $226.20M oil bill, in the first 4 months of 2016, compared to 2.2% of a higher oil bill of $387.40M in the same period of 2015.
EDL transfers represented a share of 6% of the government’s primary expenditures, which reached $3.27B in the period Jan-Apr 2016, compared to a share of 11.9% of the $2.85B expenses by April 2015.
Contribution of EDL in the Total Oil Bill by April
Source: MoF