By: Ahmed Allam
Cairo – Mubasher: Egypt is negotiating with Iraq to import around one million barrels of oil, according to Tarek El Hadidi, CEO of the Egyptian General Petroleum Corporation (EGPC).
An Egyptian delegation will visit Iraq in February to agree on a final draft for the one-year renewable oil deal, El Hadidi added on the sidelines of Egypt Petroleum Show (EGYPS) on Thursday.
Egypt is currently buying Iraqi oil from international markets, but they are currently seeking a direct contract, Minister of Petroleum Tarek El-Molla said on the sidelines of the Organization of Arab Petroleum Exporting Countries (OAPEC) conference on 22 December.
The minister added that the deal is expected to be finalised in the first quarter of 2017, El-Molla added.
Translated by: Julian Nabil
