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Monday, 20 March 2017

EGPC, Aramco to meet next month to set schedule for resumed shipments of petroleum products

Egyptian General Petroleum Company and Saudi Aramco are set to meet at the beginning of April to hammer out a schedule now that Saudi is once again shipping petroleum products to Egypt under a multiyear agreement, Al Masry Al Youm reports, citing unnamed Oil Ministry sources. Still unclear is whether the agreement will be extended for six months to cover shipments not made since Riyadh unilaterally froze the agreement last fall. As we noted yesterday, Egypt received the first two shipments of petroleum products from Aramco over the weekend, just days after Riyadh announced shipments would resume. Oil Minister Tarek El Molla had said that the next two shipments are scheduled to arrive on 25 and 26 March, and will then return to a regular schedule next month.

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