Mubasher TV
Contact Us Advertising   العربية

Aramco to recommence oil shipments to Egypt

Aramco to recommence oil shipments to Egypt
Aramco suspended oil shipments to Egypt in October - (Photo Credit: Arabianeye-Reuters)

Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources revealed that an agreement with the Saudi side has been reached to receive oil shipments from Aramco.

Tarek Al Molla added in a statement on Wednesday that recently there has been communications between the two sides to resume oil shipments, especially since the agreement is still valid.

The Ministry of Petroleum said that Aramco explained in a note that delaying the shipments was due to commercial circumstances in line with the fluctuations seen in oil prices globally, and with Saudi Arabia lowering its oil production while refineries were under periodic maintenance.

The ministry of petroleum's official spokesman Hamdy Abdel Aziz had told Mubasher in October that Saudi Aramco notified the Egyptian General Petroleum Corporation (EGPC) of the suspension of the agreed oil shipments.

After that, the EGPC contracted 700,000 tonnes of diesel and gasoline from international markets, an amount that was supposed to be supplied by Aramco.