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AMOC’s crude import deal with Iraq ends in October

AMOC’s crude import deal with Iraq ends in October
The agreement has been renewed until October 2018
AMOC
AMOC
-0.40% 7.49 -0.03

Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) announced it has renewed the four-party agreement signed with Iraq in April 2017 to import Basra crude oil.

The agreement has been renewed to import further six oil shipments from Basra until October 2018, AMOC said in a statement to the Egyptian Exchange (EGX).

The Egyptian oil firm stressed that the contract has ended after delivering the final shipment last October.

In January, AMOC reported a net profit of EGP 278.4 million for the first half of fiscal year 2018/2019, versus EGP 745.4 million in the same period of FY17/18.