Egypt’s oil minister makes rare trip to Iran for oil talks after Saudi suspension

7 Nov 2016   Egypt, Iran

Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources, is seen during a meeting with Cypriot Foreign Minister Ioannis Kasoulides at the Ministry of Foreign Affairs in Nicosia, Cyprus August 31, 2016. Egyptian Petroleum Minister Tarek El Molla was on his way to Iran on Sunday to try to strike new oil deals, sources close to his delegation said at Cairo airport, after Saudi Arabia suspended its oil agreement last month. After that suspension, Egypt voted in favor of a Russian-backed U.N. resolution on Syria in October that excluded calls to stop bombing Aleppo, which Saudi Arabia strongly opposed. Saudi Arabia has showered Egypt with billions of dollars in aid since 2013, when President Abdel Fattah al-Sisi ousted elected Mohammed Mursi of the Muslim Brotherhood and banned the Islamist movement, which Riyadh opposes. The Saudi deal was for 700,000 tonnes of oil products a month for five years […]

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