Transfers to EDL Rise to $212M by February 2018

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

Transfers to EDL Rise to $212M by February 2018

Source: MoF

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