Although the oil bill dropped in the first two months of 2010, the quantities of oil purchased by the State were up four percent as compared to 2008 in the corresponding period, the report said.

In the month of February, the Ministry of Finance transferred $175 million to EDL to cover its expenses.

Out of the total figure, payments to the two oil suppliers- Kuwait Petroleum Company (KPC) and Algeria’s Sonatrach reached $170 million; Payments covering the debt service reached $5 million.

Transfers in the first two months reached $211 million, down 112 percent compared to the same period in 2009, the report showed.

In 2010, EDL expenses accounted to 16 percent of the total oil bill.