By Mostafa Adel
Cairo – Mubasher: Egypt's petroleum exports declined to $2.35 million during July – February 2015/16, 41% down from $4 billion a year earlier, said a first-hand official preferred to remain anonymous.
By the end of 2015, petroleum exports achieved $5 billion, compared to $6.74 billion in the fiscal year 2013/14.
The movement of exports is negatively affected by the steep decline in global oil prices, the official added.
Global Oil prices plummeted 70% from their highest levels in June 2014 to $30 per barrel, then reached $27 a barrel in January, and have bounced above $40 per barrel lately.
