Egypt gets Saudi oil shipments worth $800 million

Saudi Arabia has voiced support for Egypt's military-backed interim government since the ouster of elected President Mohamed Morsi.

Egypt gets Saudi oil shipments worth $800 million


World Bulletin/News Desk

Egypt has received oil shipments worth $800 million from Saudi Arabia in the months of August and September, Tareq al-Mullah, the CEO of the Egyptian General Petroleum Company, told Anadolu Agency.

Al-Mulla said that the EGPC received a Saudi oil shipment worth $400 million in August and a similar quantity in September.

Saudi Arabia has voiced support for Egypt's military-backed interim government since the ouster of elected President Mohamed Morsi.

Riyadh has pledged $5 billion in aid to shore up Egypt's faltering economy. This includes $2 billion interest-free deposits, a $1 billion grant and $2 billion worth of oil products, including diesel, fuel and gasoline shipments to be sent over five months.

Egypt spends $1.3 billion monthly on energy products imports to meet the increasing demands of the local market.

Last Mod: 14 Eylül 2013, 18:06
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