EMEA News
Egypt to Receive 800,000 Tonnes of Saudi Petroleum Products, Including Fuel Oil and Diesel
An unnamed official from the Egyptian General Petroleum Corporation (EGPC) says that Saudi Arabia agreed to provide Egypt with 800,000 tonnes of petroleum products over a three month period beginning in February, according to Saudi media reports.
"Saudi Arabia is giving us 180,000 tonnes of gasoline, 150,000 tonnes of fuel oil, and 470,000 tonnes of diesel," the EGPC official was quoted as saying.
It is reported that the deal is an initial agreement under a promise by Saudi Arabia to assist Egypt in meeting the country's petroleum needs over the next five years.
In August, Ship & Bunker reported that Sherif Ismail, Egypt's minister of petroleum and mineral resources, had said that the Suez Canal Axis Development plan will propel his country toward a new phase of economic growth through increased bunkering activity and the trade and transport of crude oil, petroleum products, and natural gas.
