World Bulletin/News Desk
Egyptian Minister of Petroleum Sherif Ismail said Tuesday that Saudi Arabia has started sending petroleum products shipments as pledged earlier to help Egypt meet its increasing energy demands.
"We received the first fuel and diesel shipments early this month in accordance with an agreement between Egyptian General Petroleum Company and Saudi Ministry of Petroleum and the Saudi Arabian Oil Company (Aramco)," Ismail told Anadolu Agency.
The minister did not give further details, but asserted that the shipments would help cover the Egyptian market's energy needs.
The shipments are part of the $5 billion aid package pledged by Saudi Arabia for the new administration in Egypt following the army's ouster of president Mohamed Morsi on July 3.
This includes $2 billion in 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.
The oil-rich kingdom was one of first countries to welcome Morsi's ouster.
Kuwait and the UAE, which also welcomed the military's move, promised similar aid packages of money and fuel shipments.
"Undoubtedly, the shipments from Saudi Arabia, United Arab Emirates, and Kuwait would help Egypt meet its increasing financial obligations regarding energy products imports," said the petroleum minister.
Egypt spends $600 million monthly on energy product imports to meet the increasing demands of the local market, which currently consumes about 500,000 tons of diesel and as much of fuel.Last Mod: 06 Ağustos 2013, 15:00