Oil Egypt accountACCOUNT King Tut

Egypt Received Two Cargoes of Diesel Fuel from Saudi Aramco

Source: Reuters 3/19/2017, Location: Egypt

Share |
Egyptian Petroleum Minister Tarek El Molla said his country had received two cargoes of diesel fuel from Saudi Arabian state-owned oil company Aramco on Friday and Saturday. Molla was speaking at an energy conference in Cairo.

Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years, but the cargoes stopped arriving in early October.

Though officials from both sides have denied the existence of tensions or disagreements between the two countries, the two have been at odds on a number of political issues.

Egypt voted in favor of a Russian-backed but Saudi-opposed U.N. resolution on Syria in October, which excluded calls to stop bombing Aleppo.

In January an Egyptian court rejected a government plan to transfer two uninhabited Red Sea islands to Saudi Arabia.

Egypt announced last week that the petroleum product shipments would resume.

Egypt had turned to the spot market in recent months after Aramco's halt of shipments but also sought similar deals to make up the shortfall. Crude from Iraq was expected to arrive in late March as part of an agreement for 1 million barrels a month.

Molla said he was revising the import schedule with distributors following Aramco's decision to resume shipments.

In the longer term, Egypt's petroleum products imports will decrease from 35 percent of its consumption needs currently to 5-7 percent of consumption by 2020, Molla said, saving the country billions of dollars per year.

Egypt >>  5/14/2018 - Last week, the Minister of Energy of Cyprus, Mr. George Lakkotrypis, and the Minister of Petroleum and Mineral Resources of Egypt, Eng. Tarek El Molla...
Egypt >>  5/14/2018 - Governor of Egypt's Central Bank Tarek Amer said that the country is expected to make an $850 million payment on its debts to foreign oil companies. ...

Egypt >>  5/10/2018 - Eni announces the start-up of the third production unit (T-2) of the Zohr project, increasing the installed capacity to 1.2 bcfd. Zohr is now producin...
Egypt >>  5/10/2018 - China’s GCL Group has signed a memorandum of understanding (MOU) with Egypt’s ministry of military production to build a solar panel facility at a cos...

Egypt >>  5/9/2018 - Egypt has approved an exploration agreement with Italy’s Eni and the Egyptian Tharwa company to search for oil and gas in the Mediterranean off the co...
Egypt >>  5/9/2018 - Egypt and Uganda signed a number of cooperation agreements on Tuesday in a ceremony in Cairo attended by ministers of both countries and presided over...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Detergents  Diesel Fuel  Enhanced Oil Recovery  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Oil Production & Treating  Polyethylene  Polyvinyl chloride  Propane  Summer Diesel 

Related Articles: Butene  Crude Oil  Diesel Fuel  Ethylene  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Lubricants, Oils & Greases  Oil Production & Treating  Polyethylene  Polyvinyl chloride  Propane 

More News

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us