Egypt Wants Inquiry Into Suspended Saudi Oil Shipments

25 Oct 2016   Egypt

The Energy Committee of the Egyptian Parliament plans to contact its Ministry of Petroleum to get to the bottom of why the petroleum shipment from Aramco was suspended earlier this month. The news came from sources within the Egyptian Parliament, and according to that source, the Ministry will be asked to review Aramco’s five-year agreement to supply Egypt with petroleum derivatives. Egyptian Parliament has reportedly asked Petroleum Minister Tarek El Molla and the chairperson of the Egyptian General Petroleum Corporation (EGPC) to meet with Committee members this Sunday. Hamada Ghallab said that the purpose of the meeting will be to determine why shipments were suspended, and to get an outlook for subsequent shipments in November. Ghallab added that the committee will ask the Ministry of Petroleum to encourage foreign investment in oil fields in order to boost production in exchange for such things as providing facilities, […]

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