Saudi Aramco To Suspend Refined Oil To Egypt

11 Oct 2016   Egypt, Saudi Arabia

Saudi Aramco informed Egypt’s state-held Egyptian General Petroleum Corporation (EGPC) that it would suspend the delivery of refined oil products to Egypt, Reuters reported on Monday, quoting a government official. In April of this year, Saudi Aramco and EGPC entered into a US$23-billion deal , under which Saudi Arabia would deliver to Egypt 700,000 tons of petroleum products per month, as part of financial support for Egypt. Last Friday, October 7, traders had told Reuters that Egypt had not received the October share of petroleum products from Saudi Arabia. On Saturday, October 8, the Egyptian ministry of petroleum issued a statement saying that it had not received any official correspondence from Aramco regarding the status of supplies. EGPC has contracted additional amounts to meet its domestic demand and keep strategic petroleum product stocks, the statement noted. “Aramco informed the EGPC early this month of its inability to supply Egypt […]

Tags:

Comments are closed.