Egypt and Saudi Aramco to Discuss Shipments

Egypt and Saudi Aramco to Discuss Shipments

An official source at the Egyptian Ministry of Petroleum and Mineral Resources stated that The Egyptian General Petroleum Corporation(EGPC) and Saudi Aramco will hold meetings by April 2017 to set the supply schedule and quantities required according to Egypt’s needs of petroleum products.

The source pointed out that two benzene shipments  will arrive Egypt on the 25th and the 26th of March 2017, following the arrival of two shipments of diesel during the past couple of days, to the ports of Suez and Ain Sokhna, according to Al Arab News.

It’s worth noting that the agreement, between EGPC and the Saudi company, provides Egypt with  about 700,000 tons of petroleum products, including benzene and diesel for a period of five years, with payment facilities up to 15 years.

The source said, commenting on the statement of the Jordanian Energy Minister, Dr. Ibrahim Seif,  that there are discussions to establish a pipeline from Iraq to Egypt through Jordan, pointing out that the current studies are focusing on the feasibility establishing the project.

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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