The CEO of Aramco Trading Company (ATC), Ibrahim Gassem El Buaiain, met with the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, to discuss cooperation and investment opportunities, Egypt Oil & Gas reports.
ATC is considering using Egyptian refineries to refine Saudi Arabian crude oil. The refined products could then be stored in Egypt’s storage facilities for distribution in Egypt and its neighboring countries, El Buainain noted. He also emphasized the importance of the Egyptian-Saudi relationship.
El Molla also highlighted the relationship between Egypt and Saudi Arabia, particularly between their oil ministries, and noted Egypt’s willingness to partner with international oil companies (IOCs). He added that investment opportunities in Egypt are garnering significant interest from investors.
During his time in Egypt, El Buainain visited the Middle East Oil Refinery (MIDOR) and Arab Petroleum Pipelines Company (SUMED).