Saudi Aramco to resume oil shipments to Egypt

State-owned oil giant suspended shipments in November, citing commercial reasons related to oil price slump

Saudi Aramco (Getty Images)

Saudi Aramco (Getty Images)

Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt five months after suddenly halting them, the Egyptian Petroleum Ministry said on Wednesday.

The ministry said in a statement it was working out a time table with Aramco for the resumption of the shipments and that commercial reasons related to global oil prices and reduced production were behind the suspension in November.

A $23 billion Saudi aid deal with Egypt had included 700,000 tonnes of refined oil products per month for five years.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Natural solution: Saudi's renewed plans meet growing energy demands

Natural solution: Saudi's renewed plans meet growing energy demands

Saudi Arabia has long toyed with the renewable energy sector...

Power to the people in Saudi Arabia

Power to the people in Saudi Arabia

As Saudi Arabia fights to control surging electricity demand...

The upstream movement: Oil producers must invest to avoid another crisis

The upstream movement: Oil producers must invest to avoid another crisis

While oil producers continue to debate a reduction in output...

Most Discussed
sponsoredTracking