ENERGY

Egypt, Saudi Aramco sign $1.4 bln oil products deal

Egypt agreed a three-month oil products deal worth $1.4 billion with Saudi Arabia's state-owned Aramco to begin in September. (File photo: Reuters)

Egypt agreed a three-month oil products deal worth $1.4 billion with Saudi Arabia's state-owned Aramco to begin in September, the oil minister told Reuters on Thursday.

The deal stipulates that Egypt pay Aramco within a year, Sherif Ismail said.

Financial support from Gulf states such as Saudi Arabia has helped Cairo keep its economy afloat and ease an energy crisis.

The deal includes 500,000 tonnes of diesel fuel, 220,000 tonnes of heating oil and 150,000 tonnes of gasoline per month, Ismail said.

 

SHOW MORE
Last Update: Friday, 21 August 2015 KSA 00:51 - GMT 21:51
Top
BREAKING NEWS

Send to a friend

Close
Egypt, Saudi Aramco sign $1.4 bln oil products deal
The deal stipulates that Egypt pay Aramco within a year, Sherif Ismail said
Friend's name:
Friend's Email:
Sender's name:
Sender's Email:
Captcha Code
How are we doing?
X

How are we doing?

Name Name *
Email Email *
Country Country
Message Message *
Maximum 550 words allowed