Egyptian Prime Minister Mostafa Madbouly recently announced that his country would need to import around $1.18 billion worth of fuel oil and natural gas to address the ongoing power outages exacerbated by successive heat waves. The government aims to eliminate electricity cuts during the remaining summer months, and has secured a contract for 300,000 tons of diesel valued at $180 million to bolster strategic reserves, with delivery anticipated in the coming week.
Madbouly detailed that these shipments are expected to arrive in the third week of July, as electricity consumption soars during the recent heat wave. With this in mind, the government has extended daily power outage periods from two hours to three hours until the end of June, before reverting to two-hour periods in the first half of July. This move is aimed at mitigating the impact of the heat wave on power supply and ensuring uninterrupted electricity for households in Egypt.
