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Friday, July 19, 2024

Arab Gulf energy subsidies reach US$160b: GCC official

Arab Gulf energy subsidies reach US$160b: GCC official
Arab Gulf energy subsidies reach US$160b: GCC official

(Abu Dhabi) – Annual energy subsidies in the GCC countries are estimated at US$160 billion, including fuel and electricity subsidies, Ahmed Ali Al-Ebrahim, Chief Executive Officer of Interconnection Authority of the Cooperation Council for the Arab States of the Gulf (GCC), said.
Al-Ebrahim was speaking to reporters in Abu Dhabi following a forum discussion on the effect of subsidies on power trade in the GCC.
Detailed figures of subsidies for electricity in the GCC are not yet available, Al-Ebrahim added.
(Courtesy WAM)

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