Egypt is the largest oil producer in Africa outside of the Organization of the Petroleum Exporting Countries (OPEC) and the second-largest natural gas producer on the continent, behind Algeria. Egypt plays a vital role in international energy markets through the operation of the Suez Canal and Suez-Mediterranean (SUMED) Pipeline. Egypt’s economy has not fully recovered since the 2011 revolution. The government continues to fund energy subsidies, which cost the government $26 billion in 2012, and this has contributed to the country’s high budget deficit and the inability of the Egyptian General Petroleum Corporation (EGPC), the country’s national oil company, to pay off its debt to foreign operators.

For more information on the Egypt’s energy sector, visit http://www.eia.gov/countries/cab.cfm?fips=EG