Egypt, UAE Review Future Petroleum Aids

An official source in Petroleum Ministry asserted that Eng. Sheriff Ismail, Egyptian Minister will be meeting today Sultan Ahmed Al Jaber, minister of state in the United Arab Emirates (UAE) within the joint cooperation of framework between the two countries since June30.

It is expected that the meeting will discuss UAE aids for Egypt in petroleum sector during the upcoming phase, especially in the light of the decline of the petroleum and oil products and natural gas crises.

Al Jaber arrived to Egypt in a visit of following up development and service projects, targeting to achieve overall development schemes and improve the Egyptian citizens’ lives.

During the second half of 2013, the Egyptian government was obtained US$4 billion petroleum aids from Gulf countries, as Saudi Arabia provided US$2 billion through a numbers of diesel fuel, gasoline and butane gas shipments while Emirates supported the country with US$1billion through shipments of gasoline, diesel and fuel oil, in addition Kuwait provided aids worth US$1 billion through crude oil shipments.

Furthermore, according to statements which issued by the Egyptian General Petroleum Corporation (EGPC), Egypt imports US$1.3 billion petroleum products monthly from abroad, as the monthly requirements of the Egyptian market of diesel fuel reached about 450.000 tons, 300.000 butane gas and 500.000 diesel.