Egypt, KSA in talks over Saudi oil refining in Egypt - Minister

Egypt, KSA in talks over Saudi oil refining in Egypt - Minister
Aramco owns 15% of the Egyptian Sumed pipeline

Cairo – Mubasher: Egyptian minister of petroleum and mineral resources, Tarek El-Molla, said that Egypt is currently in talks with Saudi Arabia to use Egypt oil refineries including the Middle East Oil Refinery (MIDOR) in refining Saudi crude oil.

Both parties are negotiating the diversification of petroleum materials pumped by Saudi Aramco through the Sumed oil pipeline in Egypt, El-Molla added in a phone call on a talk show via DMC channel late Tuesday.

Aramco owns 15% of the Egyptian Sumed pipeline, which represents 55% of the line's total use, he highlighted.

The minister mentioned that the Arab Petroleum Pipelines Company’s (SUMED) first phase of the liquefied natural gas (LNG) terminal and its aaccompanying facilities were inaugurated two months ago with investments worth $415 million.

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Source: Mubasher

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