Egyptian ports will receive the third cargo of 2 million barrels Iraqi crude oil at the end of June 2018, head of the Egyptian General Petroleum Corporation (EGPC) Abed Ezz El Regal, told Al Mal News.
El Regal added that the country had already received the second cargo at the beginning of April and will be receiving one of the remaining shipments every two months.
The remaining Iraqi oil shipments contain around 6 million barrels of Iraqi crude oil, according to Ezz El Regal.
Egypt and Iraq had activated a contract earlier in 2018 that will see Iraq ship 2 million barrels of crude oil from Basra every two months of the year with soft payment terms and a 90-day grace period, according to Daily News Egypt.
Iraq will supply Egypt with a total of 12 million barrels over the year.
“This agreement comes within the framework of strengthening relations between the two countries and their keenness to expand the horizons of bilateral cooperation,” Iraqi oil ministry spokesman Assem Jihad stated in January 2018.