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Tuesday, 8 November 2016

Aramco to freeze shipments to Egypt until further notice

No Aramco shipments until further notice: Saudi national oil firm Aramco informed Egyptian authorities it would be halting shipments of fuel products to Egypt “until further notice,” an Egyptian official told Reuters. Oil Minister Tarek El Molla confirmed the reports to Bloomberg, but did not provide any further explanation. The government is splitting hairs, saying that the agreement with Aramco “has not been cancelled,” Al Shorouk reports. Reuters’ source said Egypt had already launched tenders to cover its import requirements for November, and the Oil Ministry issued a statement that supplies to gas pumps are continuing regularly. Aramco did not comment on the news.

Separately, the Oil Ministry issued a statement reiterating its denial that Minister Tarek El Molla was on a visit to Iran, according to Al Shorouk. There was confusion during the day after Iran’s “semi-official” Mehr news agency said El Molla was on his way to Tehran for a meeting with his Iranian counterpart, news that was later denied by El Molla himself and an Iranian oil official.

For the record, back in July 2015, Prime Minister Sherif Ismail — then Oil Minister Ismail — told Al Ahram that Egypt had no reservations about importing petroleum products from Iran.

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