According to the Ministry of Finance, transfers to EDL slightly increased by 3.4% to $212M by February 2018.
This rise mainly resulted from the increase in payments to fuel and oil gas suppliers KPC and Sonatrach, which reached $208M by February 2018. In fact, the volumes of imported fuel marginally increased by 0.44%, while that of gas oils dropped by 22.67%. The overall yearly increase in payments reflected the rise in the average price of crude oil, which rose from $54.76/barrel by February 2017 to $67.72/barrel by February 2018.
Furthermore, EDL’s contribution to the oil bill decreased to 0.3% in the first 2 months of 2018, down from its previous share of 2.5% in same period of 2017.
Out of the government’s primary expenditures, which reached $2.07B in the period Jan-Feb 2018, EDL transfers represented a share of 9.3% of the total compared to a share of 13.5% by February 2017.
Contribution of EDL in the Total Oil Bill by February