Egypt Negotiates 250,000 Tons of Fuel Imports

Egypt Negotiates 250,000 Tons of Fuel Imports

An official source at the petroleum sector stated to Egypt Oil&Gas that the Egyptian government is currently conducting new negotiations with a number of foreign suppliers to import fuel for April and May.

As the source explained, the Egyptian General Petroleum Corporation (EGPC) is aiming to import 250,000 tons of gasoline and diesel per month, in anticipation of Saudi Aramco to stop fuel shipments again at any time.

He also pointed out that the new imported shipments will be used to increase the strategic inventory and meet the national demand at gas stations all over Egypt to avoid fuel crises.

The value of the new imported shipments will be paid 50% in Egyptian pounds and 50% in American dollars by Arab suppliers, whose identities the source refused to disclose until the negotiations are officially concluded.

Egypt should continue to import fuel until it fulfills its plans to achieve energy self-sufficiency by 2023.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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