EconSource: Jordan– Government Lowers Prices of Oil Derivatives

Follow the latest in economic news and developments about the Arab transition countries. 

The government on Thursday decided to lower the prices of main oil derivatives as of Friday, August 1. According to the decision taken by the pricing committee, one liter of unleaded 90-octane gasoline will be sold at JOD 0.850, down from JOD 0.855, while one liter of 95-octane will cost JOD 1.035, compared with JOD 1.040. Fuel prices, except for cooking gas, are no longer subsidized by the government as of November 2012. [JNA]
BG Group says its natural gas operations in Egypt remain at risk after production there halved in the first six months of the year. The London-listed oil explorer on Thursday reported output from its Egyptian operations – which in 2012 made up a fifth of its global production – had fallen 52 percent in the first half compared with the same period last year, to 57,000 barrels of oil equivalent a day. [FT]
Yemen’s military was placed on high alert this week after the government took the decision to end a controversial fuel subsidy program, sparking scattered protests across the country. Hundreds took to the streets of the Yemeni capital, Sana’a, on Wednesday to protest against the government’s decision to lift fuel subsidies. One woman was killed as Yemeni security forces sought to disperse crowds. [Asharq Al-Awsat]
Also of Interest:
Egypt bourse revises EGX30’s constituents, removes 7 companies | Amwal Al Ghad
Egypt economy 2013: Recent developments and prospects | AfriBiz
UAE offers Egypt EGP 150 million for school building | Aswat Masriya
Jordan commercial banks ratings affirmed | MENAFN
Factsheet: US support for Yemen | Reliefweb