The General Authority for Supply Commodities (GASC) announces plans to buy 102,000 tons of diesel fuel to be delivered in September, according to ElMasry Al Youm. GASC had previously sought to buy large amounts of fuel oil for delivery in the third quarter of 2014. The authority held two tenders for the purchase on Thursday and intends to close the door for offers on 6 August. Egypt had recently increased fuel prices in order to reduce energy subsidies in an effort to reduce the budget deficit.
Sunday, August 3- 2014 @ 2:38 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.