By Ahmed Allam
Cairo – Mubasher: Kuwaiti government approved renewing the 2014-signed oil supply agreement with Egypt as of January 2017, said Hamdy Abdel Aziz, spokesperson for the Ministry of Petroleum, on Wednesday.
"The agreement provides that Kuwait imports two million barrels of crude oil with a nine-month grace period", Abdel Aziz told Mubasher in a phone call.
This agreement has been effective for years and is renewable every 3 years after the Kuwaiti cabinets agree the grace period for payments, the spokesperson indicated.
Earlier, Egypt’s Petroleum Minister Tarek Al-Molla said that the Saudi Aramco informed the government about suspending oil supplies to Egypt unless otherwise notified.
