Saudi Aramco to suspend oil products to Egypt

Saudi Aramco to suspend oil products in Egypt with the state now increasing tenders to meet fuel supply-

Saudi Aramco to suspend oil products to Egypt

World Bulletin / News Desk

Saudi Aramco informed the Egyptian General Petroleum Corporation, Egypt’s state oil company, in early October that it would halt the supply of refined oil products to Egypt, a government official told Reuters on Monday.

“Aramco informed the EGPC early this month of its inability to supply Egypt with shipments of petroleum products,” the official said, without giving a timeline for the suspension or a reason.

Saudi Arabia agreed to provide Egypt with 700,000 tons of refined oil products per month for five years under a $23 billion deal between Saudi Aramco and the Egyptian General Petroleum Corporation (EGPC) signed during a state visit this year by Saudi Arabia’s King Salman.

Traders that deal with the EGPC told Reuters last week that Egypt had not received October allocations of petroleum aid from Saudi Arabia, forcing its state oil buyer to launch more tenders for local fuel consumption.

source: Reuters/Asharq Al-Awsat

Güncelleme Tarihi: 10 Ekim 2016, 21:31