Egypt, Kuwait renew oil supply deal
An oil rig
Egypt - Arab today
Egypt and Kuwait has signed a new multi-billion dollar contract to supply crude oil and petroleum, the state oil company of the Gulf country announced on Wednesday evening.
The contract signed by the Egyptian General Petroleum Corporation (EGPC) and the Kuwait Petroleum Corporation (KPC) is to supply Egypt with 1.5 million barrels of petroleum products per year and 2 million barrels of crude oil per month.
According to the three-year contract, the crude oil will be refined in Egyptian refineries.
Egypt will have a grace period of 180 days to pay for the shipments of fuel products and 270 days for crude oil, according to MENA.
A previous three-year contract between the two countries expired in December
Source: Ahram online
- Wednesday ,01 March GMT 04:04 2017 Egypt oil ministry signed 8 deals worth $709 mln to find energy reserves in 2015/16
GMT 04:04 2017 Wednesday ,01 March
Egypt oil ministry signed 8 deals worth $709 mln to find energy reserves in 2015/16
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Sanaa - Muslimchronicle
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Paris - Muslimchronicle
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