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19-Mar-2017

Egypt received Saudi Aramco oil products shipments on Friday, Saturday

Egypt received oil products shipments from Saudi Aramco on Friday and Saturday, according to Minister of Petroleum, Tarek Al Molla. The next two shipments are scheduled to arrive on 25 and 26 March and will return to a regular monthly schedule starting April, he said, adding that the value of the monthly shipments is cUSD320-340mn, though Egypt gets to pay it over an extended term, with a five-year grace period. The Minister had announced last week that the deal would be resumed, after it had been halted since early-October, carrying the same terms as agreed-upon in April 2016.

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