Cairo – Mubasher: Egypt nears receiving a shipment of 700,000 tons of petroleum products as an alternative for Saudi Aramco’ suspended supplies delivers to Egypt, said Egyptian General Petroleum Corporation (EGPC).
Early October, Saudi Aramco informed EGPC that it would halt the supply of refined oil products to Egypt, according to news reports.
Later on, an official in Aramco stated that the company is obligated to implement its contract with the (EGPC), which was signed several months ago. The contract stipulates that Saudi Aramco will supply the EGPC with 700,000 tons of petroleum products every month for a five-year period.
He shot down reports that the company had officially suspended the contract, adding that the petroleum shipments have been delayed due to the reassessment of Saudi Arabia’s share of sales from its oil production.
On other hand, official spokesman said that EGPC has contracted on additional amounts to meet the needs of the domestic market along with continuing to maintain strategic stocks of petroleum products.
