ICEC

Egypt in Talks to Extend Oil Product Supplies from Gulf

Egypt is negotiating with Saudi Arabia, Kuwait and the United Arab Emirates to supply it with petroleum products into 2014, Egyptian Petroleum Minister Sherif Ismail said on Tuesday.

The three Gulf countries, which pledged to provide Egypt with $12 billion in aid after the army ousted Islamist president Mohamed Morsi on July 3, are already providing petroleum products until the end of December, Sherif Ismail, the Minister of Petroleum said.

The Gulf countries have been sending diesel, gasoline and fuel oil to Egypt since July, he said.

Ismail has emphasized that there is no any contacts with Qatar during the current period, explaining that the Egyptian Natural Gas Holding Company(EGAS) is in touch with many foreign firms so as to provide the needs of the domestic market, away from Qatar, asserting that these communications will greatly continue until many new discoveries will implement.


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