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 >>  1/14/2019 - SDX Energy Inc. (SDX), the North Africa focused oil and gas company, is pleased to provide an update on operational developments in Egypt. A full ope...
Egypt >>  1/14/2019 - The energy ministers from seven Eastern Mediterranean countries declared in Cairo the establishment of the East Mediterranean Gas Forum (EMGF), which ...

Egypt >>  1/14/2019 - Petroleum Minister Tareq el Mulla held a meeting with Jordanian Minister of energy and mineral wealth Hala Zawati to discuss the latest developments o...
Egypt >>  1/14/2019 - The National Bank of Egypt (NBE) and board directors of three major companies have signed three agreements, worth 25 million euros, to finance the Egy...

Egypt >>  1/13/2019 - The state-owned General Petroleum Company (GPC) said that its total production hit 97,400 barrels per day in the first half of the current fiscal year...
Egypt >>  1/12/2019 - The Regional Center for Renewable Energy and Energy Efficiency (RCREEE) signed a new cooperation agreement with Egypt’s housing ministry aimed at enco...

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