According to the Ministry of Finance, transfers to EDL witnessed a yearly drop of 7.74% to reach $ 1B by August 2019.
In details “Payments to fuel and oil gas suppliers KPC and SPC” (which grasped 99.74% of the total amount) decreased yearly by 6.4% to $1B by August 2019. This decrease can be mainly attributed to the 8.55% yearly retreat in average prices of crude oil to $65.24 /barrel in the first 8 month of 2019 and lower Volume of imported fuel oil by 14.74% by August 2019 compared to the same period last year. However, the volume of imported Gas oil increased yearly by 6.08% by August 2019.
Furthermore, EDL contributed 0.38% to the total oil bill. This figure was higher than to that related to the same period of 2018, out of a higher bill of $1.07B.
EDL transfers represented a share of 13.7% of the government’s primary expenditures, which reached $7.33B by August 2019, compared to a share of 13.6% by August 2018.
Contribution of EDL out of the total oil bill ( By August)
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Source: MOF