EMEA News
Shell Inks Suez Canal Deal with Nile Petroleum
Nile Petroleum will act as the main distributor of Shell brand marine lubricants in Egypt, serving ships passing through the Suez Canal, under a new agreement with Shell Egypt, the English-language newspaper Daily News Egypt reports.
Alaa Al-Gharbawi, managing director of Shell Egypt, said partnerships with Egyptian petroleum and gas companies, as well as the international oil industry are needed to provide fuel along the Suez Canal and other Egyptian ports, and to encourage growth in the nation's economy.
Nile Petroleum is also trying to expand its fueling operations for ships stopping at the ports of Hurghada, Safaga, Al Hamraween, Abu Tartur, Sharm El-Sheikh, and Nuweiba on the Red Sea.
Ahmed Al-Tuni, president of the board of directors for Nile Petroleum, said the company is also working to distribute fuel at three Egyptian airports and to build new vehicle fueling stations throughout Egypt.
Egyptian officials are seeking new development to spur economic activity along the Suez Canal, but some in the shipping industry have said toll increases, the threat of piracy in the Red Sea, and political instability in Egypt are making the Suez Canal route less attractive.
