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Saudi Arabia will supply the Egyptian refineries with the necessary crude for 6 months
Egyptian Oil Minister Tariq Al-Mulla revealed his country's agreement with Saudi Aramco to supply crude to Egypt's refineries for a period of 6 months to calculate the start-up from January.
"We will supply 500,000 barrels per month of crude oil from January to June," Mulla said in an interview with Reuters, without disclosing any financial details.
The Saudi oil company received crude oil on an experimental basis for the Egyptian refineries in November and January last year.
This comes within the framework of an agreement signed in April 2016 to provide Egypt with about 700 thousand tons of refined petroleum products per month for 5 years.
In November 2016, Egypt entered into a race with days to supply the market with oil derivatives after Aramco suspended supplies and imported fuel and put it in local markets.
"We will supply 500,000 barrels per month of crude oil from January to June," Mulla said in an interview with Reuters, without disclosing any financial details.
The Saudi oil company received crude oil on an experimental basis for the Egyptian refineries in November and January last year.
This comes within the framework of an agreement signed in April 2016 to provide Egypt with about 700 thousand tons of refined petroleum products per month for 5 years.
In November 2016, Egypt entered into a race with days to supply the market with oil derivatives after Aramco suspended supplies and imported fuel and put it in local markets.
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