Cairo - Mubasher: Egypt’s minister of petroleum and mineral resources Tarek El-Molla and Saudi Aramco CEO, Ibrahim Jassim Al Buainain, discussed transforming Sidi Keirir into a hub that supports marketing Aramco’s crude oil sales to Europe.
Aramco CEO said that there are big investment opportunities in the petroleum sector in Egypt, including increasing the Saudi oil pumped through Sumed pipeline in addition to utilising unused capacities in Egyptian oil refineries to refine Saudi crude oil.
This statement came during Al Buainain’s visit to Egypt on Monday, where he witnessed infrastructure development projects carried out by the petroleum sector in Egypt.
According to the Egyptian petroleum ministry, El-Molla said on Monday that he is looking forward to developing relationships with international oil corporations, including Aramco.
Aramco can use storage capacities in Egypt to store Saudi oil in order to distribute its petroleum products in Cairo and its outskirts.
The petroleum ministry is currently working on transforming Egypt into a regional hub for energy trade.