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Aramco to supply Cairo with more than 500,000 barrels of crude per month

Wednesday 27 February 2019 04:10 AM

Minister of Petroleum Tarek El Molla
Minister of Petroleum Tarek El Molla


MEMO:
Egyptian Oil Minister Tariq Al-Mulla said on Tuesday that he has reached an agreement with Saudi state-run oil company Aramco to extend the supply of crude to Egyptian refineries for a further six months starting last January.

The world’s largest oil company had begun supplying crude to Egyptian refineries on a trial basis in November and December 2017 and then it began regular supply in 2018.
The company will supply more than 500,000 barrels of crude oil per month in the period from January to next June, the minister said. He gave no financial details.

Saudi Arabia agreed in April 2016 to supply Egypt with 700,000 tons of refined petroleum products per month for five years.




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