• 3 minutes Looming European Gas Crisis in Winter and North African Factor - a must read by Cyril Widdershoven
  • 7 minutes "Biden Targets Another US Pipeline For Shutdown After 'Begging' Saudis For More Oil" - Zero Hedge Monday Nov 8th
  • 12 minutes "UN-Backed Banker Alliance Announces “Green” Plan to Transform the Global Financial System" by Whitney Webb
  • 5 hours Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours Hunter Biden Helped China Gain Control of Cobalt Mines in Africa
  • 11 hours CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 5 days Building A $2 Billion Subsea Solar Power Cable From Chile To China
  • 4 days Is anything ever sold at break-even ? There is a 100% markup on lipstick but Kuwait can't break-even.
  • 8 hours NordStream2
  • 4 days Modest drop in oil price: SPRs vs US crude inventory build
  • 4 days 2019 - Attack on Saudi Oil Facilities.
  • 4 days Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 days Ukrainian Maidan after 8 years
  • 6 days Peak oil - demand vs production

Egypt Sentences Five People To Death For Deadly Oil Pipeline Explosion

An Egyptian criminal court sentenced this week five people to death for oil pipeline damage that killed nine people in November, Egyptian media report.

Five other people who were involved in the pipeline destruction received a sentence of 25 years in jail.  

The ten defendants rented in October a private property in northern Egypt, through which a petroleum pipeline passed, to dig underground and place smaller pipes to steal fuel from the pipeline.

In the middle of November 2019, the would-be petroleum thieves accidentally ruptured the pipeline while trying to steal gasoline, causing a leak and a fire that killed nine people and injured more than a dozen others. A hospital in the area of the village between Alexandria and Cairo was full of survivors from the fire, and there appeared to be more wounded people treated for injuries than reported, one resident told Reuters at the time.  

Egypt’s top prosecutor, Hamada al-Sawy, had referred the defendants to a criminal court in the country after the failed fuel thieves confessed to their crime.

In recent years, Egypt has been gradually cutting its fuel subsidy program, aiming to let fuel prices reach international levels and stop subsidizing fuels as part of a program for economic reforms backed by the International Monetary Fund (IMF) in exchange for loans.

By the middle of 2019, Egypt had phased out subsidies on most fuels, saving government expenses in the process, but allowing fuel prices for consumers to rise.

In July 2019, Egypt decided to create a committee that would set the fuel prices in the country every three months, based on international oil prices. This committee is expected to soon announce the new fuel prices as of April 1, and is considering slashing them by 20-30 percent, due to the low oil prices and the challenges for the economies in the COVID-19 pandemic, local outlet Ahram Online reported this week, citing a source with knowledge of the matter.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News