Saudi oil shipments to Egypt halted indefinitely, Egyptian officials say

7 Nov 2016   Egypt, Saudi Arabia

Saudi Arabia has informed Egypt that shipments of oil products expected under a $23 billion aid deal would be halted indefinitely, suggesting a deepening rift between the Arab world’s richest country and its most populous. Saudi Arabia agreed to provide Egypt with 700,000 tonnes of refined oil products per month for five years in April, during a visit by King Salman. The cargoes stopped arriving at the start of October, as festering political tensions burst into the open, but Egyptian officials said the contract remained valid and had appeared to hold out hope that oil would start flowing again soon. Saudi Arabia’s state oil firm Aramco has not commented on the halt. But […]

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