Saudi Aramco to resume oil product shipments to Egypt soon

16 Mar 2017   Egypt, Saudi Arabia

Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after halting them suddenly, the Egyptian Petroleum Ministry said on Wednesday, signaling a potential thaw in relations after months of tension. The ministry said in a statement that it was working with Aramco on a timetable for the resumption of shipments and that the reasons behind the October cut-off were purely commercial. “It was agreed that the Saudi Arabian side would resume Aramco’s shipping of oil products as per the commercial contract signed between the Egyptian General Petroleum Corporation and Aramco,” the statement said. Saudi Aramco could not be reached for immediate comment. “Very shortly we will finalize the time and place for receiving shipments from Aramco,” a ministry official told Reuters, asking not to be identified because he is not authorized to speak to the media. Asked if shipments would resume within […]

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