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Saudi Arabia will resume oil exports to Egypt, and an uncertain fate of the agreement with Iraq
History of edits:: 2017/3/16 10:11 • 76 visits readable
Saudi Arabia will resume oil exports to Egypt, and an uncertain fate of the agreement with Iraq
[Oan- follow-up]
Egyptian Ministry of Petroleum said that Saudi state oil firm Aramco will resume the supply of petroleum products to Egypt after nearly six months of stopped abruptly.
According to the Egyptian Ministry of Petroleum official told Reuters on Wednesday that it is scheduled to be completed to determine the timeframe for receiving shipments Aramco very soon.
The Ministry of Petroleum said in a statement, "it was agreed to resume the supply side, Saudi Aramco petroleum products shipments in accordance with the commercial contract signed between the Petroleum Authority and Saudi Aramco currently underway to identify time-bound programs to receive shipments, respectively."
The official said the ministry, who asked not to be named, told Reuters by telephone "within a very short period of time we will be finished determine the dates and places of receiving shipments from Saudi Aramco."
When asked whether this period means weeks, the official said "I do not .. we are talking about a very short period of time."
Saudi Arabia was agreed in April last year to supply 700 thousand tons of refined oil products to Egypt a month for five years but stopped shipments in October.
Aramco did not provide formal reasons to stop the shipments.
However, the statement of the Egyptian Petroleum Ministry on Wednesday said the suspension of shipments was a commercial for special circumstances Aramco "in light of the changes in the global oil market prices over the past period and the establishment of Saudi Arabia by a reduction in the level of its production of oil and coincided with a special periodic maintenance of the refineries work."
Although officials on both sides have denied the existence of any tensions or disputes between the two countries, but they disagreed on a number of political issues.
In October, Egypt voted for the UN resolution on Syria, Russia supported and opposed by Saudi Arabia ruled out the call to stop the bombardment of Aleppo.
In January, an Egyptian court ruled the invalidity of the signing of the demarcation of the maritime border agreement with Saudi Arabia included the transfer of the islands of Tiran and Sanafir the Red Sea to Saudi Arabia.
Egypt has resorted to the spot market in recent months has also sought to conclude deals to make up the shortfall, it is expected the arrival of crude oil supplies from Iraq in late March in the framework agreement for the supply of one million barrels per month will hopefully be implemented in the coming weeks.
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History of edits:: 2017/3/16 10:11 • 76 visits readable
Saudi Arabia will resume oil exports to Egypt, and an uncertain fate of the agreement with Iraq
[Oan- follow-up]
Egyptian Ministry of Petroleum said that Saudi state oil firm Aramco will resume the supply of petroleum products to Egypt after nearly six months of stopped abruptly.
According to the Egyptian Ministry of Petroleum official told Reuters on Wednesday that it is scheduled to be completed to determine the timeframe for receiving shipments Aramco very soon.
The Ministry of Petroleum said in a statement, "it was agreed to resume the supply side, Saudi Aramco petroleum products shipments in accordance with the commercial contract signed between the Petroleum Authority and Saudi Aramco currently underway to identify time-bound programs to receive shipments, respectively."
The official said the ministry, who asked not to be named, told Reuters by telephone "within a very short period of time we will be finished determine the dates and places of receiving shipments from Saudi Aramco."
When asked whether this period means weeks, the official said "I do not .. we are talking about a very short period of time."
Saudi Arabia was agreed in April last year to supply 700 thousand tons of refined oil products to Egypt a month for five years but stopped shipments in October.
Aramco did not provide formal reasons to stop the shipments.
However, the statement of the Egyptian Petroleum Ministry on Wednesday said the suspension of shipments was a commercial for special circumstances Aramco "in light of the changes in the global oil market prices over the past period and the establishment of Saudi Arabia by a reduction in the level of its production of oil and coincided with a special periodic maintenance of the refineries work."
Although officials on both sides have denied the existence of any tensions or disputes between the two countries, but they disagreed on a number of political issues.
In October, Egypt voted for the UN resolution on Syria, Russia supported and opposed by Saudi Arabia ruled out the call to stop the bombardment of Aleppo.
In January, an Egyptian court ruled the invalidity of the signing of the demarcation of the maritime border agreement with Saudi Arabia included the transfer of the islands of Tiran and Sanafir the Red Sea to Saudi Arabia.
Egypt has resorted to the spot market in recent months has also sought to conclude deals to make up the shortfall, it is expected the arrival of crude oil supplies from Iraq in late March in the framework agreement for the supply of one million barrels per month will hopefully be implemented in the coming weeks.
[You must be registered and logged in to see this link.]
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