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Egypt agrees to buy 12 million barrels of oil per year from Iraq
Baghdad / term
The Egyptian government agreed on Wednesday, to buy 12 million barrels of oil per year from Iraq, under an agreement reached by the two countries , the government last year.
He said Egyptian Oil Minister Tariq al- Mulla in a press statement that "this is the first contract of its kind between Egypt and Iraq to buy direct , " noting that " the two countries will sign officially in the next few days the contract to ship the first amount of Iraqi oil to Egypt."
He added Mulla, who negotiated the contract with the government in Baghdad since last year, that "Egypt is currently crude oil imports from Kuwait and Saudi Arabia , " pointing out that "diversification in the market evidence of the cooperation of Arab countries."
Mulla said that "Egypt 's debts to foreign oil companies amounted to three billion and 500 thousand dollars , " noting that " the government is working on leaps and bounds to be reduced."
The Egyptian Oil Minister Tariq al- Mulla had previously predicted the arrival of the first shipment of Iraqi oil May next by 2 million barrels a first as cargo. "
Saudi Aramco has resumed in recent shipments of petroleum products to Egypt after a six - month break, while the Egyptian government renewed its contract for the supply of oil Kuwait for another three years ending in 2019.
the two countries signed in March last year agreement to supply Egypt one million barrels of oil per month, Basrah light, can be increased later and the terms of payment facilitator, while the Iraqi ambassador in Cairo , Habib al- Sadr announced (23 February 2017), for the end of the signing Atva Egypt to supply one million barrels of oil per month.
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