The Ministry of Petroleum announced signing of an agreement with Saudi Aramco – the largest energy company in the world – to provide Egypt with its needs of petroleum products for three months, reported Reuters. Repa ...
Informed sources, on condition of anonymity, told Reuters that Saudi Aramco is talking to banks about raising a $5b loan to help out a refinery it built in collaboration with China's Sinopec.
Egypt agreed a three-month oil products deal worth $1.4 billion with Saudi Arabia's state-owned Aramco to begin in September, Sherif Ismail told Reuters.
Saudi Aramco has revived plans to add a clean fuels unit in its biggest oil refinery in Ras Tanura and more environmentally-friendly units to its Rabigh refinery, industry sources said.
Saudi Aramco bought more than 1 million barrels of gasoil for July in the spot market despite new refining capacity, as hot summer weather boosts power demand for airconditioning