Home / Business / After 6-Months of sudden halt, Saudi Aramco Restart Shipments To Egypt

After 6-Months of sudden halt, Saudi Aramco Restart Shipments To Egypt

Hamad I Mohammed CAIRO Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after halting them suddenly, the Egyptian Petroleum Ministry said on Wednesday, signaling a potential thaw in relations after months of tension.
Logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017.
Saudi Aramco could not be reached for immediate comment.
Asked if shipments would resume within weeks, the official said: “No, no, we are talking about a very short time period.”
“It was agreed that the Saudi Arabian side would resume Aramco’s shipping of oil products as per the commercial contract signed between the Egyptian General Petroleum Corporation and Aramco,” the statement said.

As it stated in

Saudi Aramco To Restart Shipments To Egypt After 6-Month Hiatus

Saudi Aramco will restart oil and refined product shipments to Egypt after a sudden halt nearly six months ago, according to an announcement by the Egyptian Petroleum Ministry on Wednesday.
“They did not give us a reason,” an oil ministry official told Reuters in November.
“They only informed the authority about halting shipments of petroleum products until further notice.”
When asked whether ships with Saudi oil cargo would dock within weeks, the official said: “No, no, we are talking about a very short time period.”
Last April, the KSA agreed to supple Egypt with 700,000 tonnes of refined oil products every month for five years, but shipments stopped just six months later as political tensions grew, Reuters reports.
Saudi Aramco

As it stated in

Saudi Aramco resumes Egypt oil deliveries
Saudi Aramco

CAIRO: Egypt has received its first two oil shipments from Saudi giant Aramco after deliveries were suspended for several months over political differences, an oil ministry spokesman said on Sunday (Mar 19).
But the move came after Egypt voted in favour of a Russian-drafted UN Security Council resolution on Syria that Saudi Arabia strongly opposed.
“On Friday and Saturday, we received the first two deliveries after a resumption of the contract with Aramco,” oil ministry spokesman Hamdi Abdel Aziz told AFP.
Saudi Arabia has provided Egypt with billions of dollars in aid and credit since then army chief, now President Abdel Fattah al-Sisi overthrew his Islamist predecessor Mohamed Morsi in 2013.
During a visit to Cairo by King Salman in April last year, Saudi Arabia agreed to finance Egyptian imports of refined products from Aramco for five years in a US$23-billion (€21.5-billion) deal.

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