Middle East Africa
Kuwait to send 2 mln barrels of oil a month to Egypt
- Egypt and Kuwait enter into oil supply agreement for three years

Egypt and Kuwait entered into an oil supply agreement for three years, Tarek El Hadidi, head of Egypt's oil committee said on Wednesday.

Under the agreement, Kuwait will supply 2 million barrels of oil to Egypt every month for three years, Hadidi said in a press conference in Cairo.

In January, Kuwait produced 2.7 million barrels per day, 141 thousand barrels lower than December, OPEC's recent monthly oil report showed.

Hadidi also announced that Egypt was looking to cooperate with other countries in the region to meet its energy demands, but remained tight lipped about further details.

Saudi Aramco, Saudi Arabia's national petroleum and natural gas company, suspended all shipments of fuel to Egypt indefinitely in October 2016.

In April 2016, Saudi Arabia agreed to provide Egypt with 700,000 tonnes of refined oil products per month for five years.

Some analysts linked the sudden halt in shipments to straining relations between the two neighbors.

Soon after, in a bid to find alternative countries to import energy from, Tarek El Molla, Egypt’s minister of petroleum, made official visits to Jordan and Iraq.

Reporting by Hussein Abd El-Fettah, Said Ibicioglu in Cairo

Writing by Zeynep Beyza Kilic

Anadolu Agency








16 Feb,2017