Egypt's Energy Crisis: $1.18 Billion Fuel Imports to Combat Power Cuts

Egypt plans to import $1.18 billion worth of mazut fuel oil and natural gas to tackle ongoing power cuts caused by heat waves. Prime Minister Mostafa Madbouly stated that shipments are expected by the third week of July, by which time the government hopes to stabilize power supply for the rest of the summer.

Egypt will need to import around $1.18 billion worth of mazut fuel oil and natural gas in order to mitigate persistent power cuts exacerbated by consecutive heat waves, the country's Prime Minister Mostafa Madbouly said in a televised address on Tuesday.

These shipments will arrive in full around the third week of July by which point the government aims to stop cutting power during the remaining summer months, he added.

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