As part of the five-year agreement that Egypt has with Saudi Arabia to contribute in supplying the country’s fuel needs, Egypt has received shipments of petroleum products worth approximately $650m in May and June 20 ...
Saudi Arabia's Oil Minister said that the IPO of the world’s largest oil company is not an end to the policy of keeping some production capacity idle to guard any disruption in supply.
Saudi Arabia raised its pricing for June oil sales to Asia by the most since April 2015, a sign that the world’s biggest crude exporter expects demand to recover.
Saudi Aramco and Egypt's SUMED pipeline operator have signed a contract to boost the capacity of Saudi oil transported via SUMED from the Egyptian Ain Sukhna port on the Red Sea coast to Aramco's customers in Europe.
Egypt has signed a deal with Saudi Aramco stipulating that the Saudi company would supply the country with petroleum products for five years, the Egyptian Ministry of Petroleum said in a statement.
Saudi Aramco announced that it would not reduce its new investment in oil and gas production capacity despite the financial strain caused by low oil prices.