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Egypt plans to renew contract to import Iraqi oil
announced on Tuesday its intention to renew the contract for the import of Iraqi oil and the same quantities. "Egypt plans to renew the Iraqi oil import contract for another year and the same quantities," Egyptian Oil Minister Tariq al-Mulla told a news conference on the launch of the third edition of the International Petroleum Conference and Exhibition. Egypt was to import 12 million barrels of Iraqi crude oil over 2018. In March 2016, the countries signed an agreement to supply Egypt with one million barrels of oil per month of Basrah Light, which could be increased later and on favorable terms.
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