Egypt, Saudi Aramco sign $1.4bn oil products deal - minister
Now Reading
Egypt, Saudi Aramco sign $1.4bn oil products deal – minister

Egypt, Saudi Aramco sign $1.4bn oil products deal – minister

The deal stipulates that Egypt pay Aramco within a year

Avatar

Egypt agreed a three-month oil products deal worth $1.4bn with Saudi Arabia’s state-owned Aramco to begin in September, the oil minister told Reuters on Thursday.

The deal stipulates that Egypt pay Aramco within a year, Sherif Ismail said.

Financial support from Gulf states such as Saudi Arabia has helped Cairo keep its economy afloat and ease an energy crisis.

The deal includes 500,000 tonnes of diesel fuel, 220,000 tonnes of heating oil and 150,000 tonnes of gasoline per month, Ismail said.


© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top