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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Egypt announces receipt of the first shipment of Iraqi oil

    Rocky
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    • Post n°1

    Egypt announces receipt of the first shipment of Iraqi oil Empty Egypt announces receipt of the first shipment of Iraqi oil

    Post by Rocky Fri 26 May 2017, 1:56 am

    Egypt announces receipt of the first shipment of Iraqi oil

    economy  Since 2017-05-25 at 16:11 (Baghdad time)

    Follow Mawazine News
    Egypt has received the first shipment of Iraqi oil, the Minister of Petroleum and Mineral Resources Tariq al-Mulla said on Thursday, confirming that it is in agreement on the second shipment, without giving further details.
    Earlier this month, the Iraqi Ministry of Oil announced the start of export of the first shipment of crude oil to Egypt and two million barrels.
    On 10 April 2017, Mullah said his government agreed to import Iraqi crude oil by 12 million barrels a year.
    The minister said in a press conference held at the government today that the Cabinet approved six agreements for the oil sector in the field of research and exploration, and will be submitted to the House of Representatives.
    Mulla said the total of the signing grants in the agreements approved by the Council of Ministers amounted to $ 65 million with commitments from foreign companies to spend at least $ 160 million.
    Mulla revealed that the coming period includes the development of natural gas fields to achieve self-sufficiency by the end of 2018.
    In early 2017, Mulla said his country's oil sector had signed 76 oil and gas exploration agreements with international companies since November 2013 with investments of at least $ 15.3 billion and a signature of about $ 1 billion to drill 319 wells.
    Earlier this month, the Egyptian oil minister said that his country would receive the first shipments of Iraqi oil on May 12, noting that Iraqi crude was not a substitute for oil obtained by Egypt from Saudi Aramco.
    Mullah said that the first shipment of Iraqi oil is 2 million barrels of crude oil, noting that the mobilization of Egyptian tankers has been completed in the port of Basra (south of Baghdad) and began to move to Egyptian ports.
    He added: "This contract is a good start for cooperation with the Iraqi side in many areas during the coming period, especially the participation of Egyptian companies in the rehabilitation of Iraqi oil facilities."
    According to the Egyptian minister, the contract provides for the supply of 12 million barrels per year of Basrah Light for one year renewable.
    The Egyptian Petroleum Authority recently renewed its agreement with Kuwait Petroleum Corporation (KPC) for a period of three years to supply about 1.5 million tons of petroleum products annually and about 2 million barrels of crude per month to be recycled in Egyptian factories. Ending 29 / Mn


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