Cairo – Mubasher: Saudi Aramco signed an agreement with Arab Petroleum Pipelines Company (SUMED) to increase Saudi’s oil supply to Europe, said Tarek El-Molla, Minister of Petroleum.
By this agreement, Egypt’s Sidi Kerir and Ain Sukhna terminals will be used by Saudi Arabia to pump higher volume of Oil into Europe, the minister added.
In addition, the agreement also entails the use of Sumed’s facility for storing Saudi oil, along with turning Sidi Kerir into a regional hub for Saudi crude oil
The deal was completed on King’s Salman’s 5-day visit to Egypt. Moreover, the Saudi oil giant also inked another five-year agreement with the Ministry of Petroleum for providing Egypt with Petroleum products.
