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Egypt aims to resume Saudi Aramco oil product imports

Reuters  |  CAIRO 

CAIRO (Reuters) - aims to resume importing products from Aramco by the end of March or early April, the country's petroleum minister told on Thursday.

Tarek El Molla said that a deal to import crude from Iraq would remain in place as it was not a replacement for shipments which were halted late last year.

Arabia agreed in April 2016 to provide with 700,000 tonnes of refined products per month for five years but the cargoes stopped arriving in early October.

Aramco declined to comment on the report.

Egypt's Petroleum Ministry said on Wednesday that it was working with Aramco on a timetable for the resumption of and that the reasons behind the October cut-off were purely commercial.

Though officials from both sides have denied the existence of tensions or disagreements between the two countries, the two have been at odds on a number of political issues.

voted in favour of a Russian-backed but Saudi-opposed U.N. resolution on Syria in October, which excluded calls to stop bombing Aleppo.

In January an Egyptian court rejected a government plan to transfer two uninhabited Red Sea islands to Arabia.

(Reporting by Ehab Farouk; writing by Asma Alsharif; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Egypt aims to resume Saudi Aramco oil product imports

CAIRO (Reuters) - Egypt aims to resume importing oil products from Saudi Aramco by the end of March or early April, the country's petroleum minister told Reuters on Thursday.

CAIRO (Reuters) - aims to resume importing products from Aramco by the end of March or early April, the country's petroleum minister told on Thursday.

Tarek El Molla said that a deal to import crude from Iraq would remain in place as it was not a replacement for shipments which were halted late last year.

Arabia agreed in April 2016 to provide with 700,000 tonnes of refined products per month for five years but the cargoes stopped arriving in early October.

Aramco declined to comment on the report.

Egypt's Petroleum Ministry said on Wednesday that it was working with Aramco on a timetable for the resumption of and that the reasons behind the October cut-off were purely commercial.

Though officials from both sides have denied the existence of tensions or disagreements between the two countries, the two have been at odds on a number of political issues.

voted in favour of a Russian-backed but Saudi-opposed U.N. resolution on Syria in October, which excluded calls to stop bombing Aleppo.

In January an Egyptian court rejected a government plan to transfer two uninhabited Red Sea islands to Arabia.

(Reporting by Ehab Farouk; writing by Asma Alsharif; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Egypt aims to resume Saudi Aramco oil product imports

CAIRO (Reuters) - aims to resume importing products from Aramco by the end of March or early April, the country's petroleum minister told on Thursday.

Tarek El Molla said that a deal to import crude from Iraq would remain in place as it was not a replacement for shipments which were halted late last year.

Arabia agreed in April 2016 to provide with 700,000 tonnes of refined products per month for five years but the cargoes stopped arriving in early October.

Aramco declined to comment on the report.

Egypt's Petroleum Ministry said on Wednesday that it was working with Aramco on a timetable for the resumption of and that the reasons behind the October cut-off were purely commercial.

Though officials from both sides have denied the existence of tensions or disagreements between the two countries, the two have been at odds on a number of political issues.

voted in favour of a Russian-backed but Saudi-opposed U.N. resolution on Syria in October, which excluded calls to stop bombing Aleppo.

In January an Egyptian court rejected a government plan to transfer two uninhabited Red Sea islands to Arabia.

(Reporting by Ehab Farouk; writing by Asma Alsharif; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22