|The Egyptian government agrees to buy 12 million barrels of oil per year from Iraq|
approved by the Egyptian government, to buy 12 million barrels of oil a year from Iraq , under an agreement reached by the two governments last year.
According to Reuters , quoting Egyptian Oil Minister Tariq al- Mulla, saying 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 Mullah 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."
Egypt agrees to buy oil from Iraq and expects the arrival of the first shipment next month
An oil delegation to visit Iraq in February to agree on oil import
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."
It resumed Saudi Aramco in recent shipments of petroleum products to Egypt after a lapse of six months, while the Egyptian government renewed its contract for the supply of oil from 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 , from oil Basra light, can be increased later and the terms of payment of soft.
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