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FINANCIAL NEWS
Egypt obtains USD650mn worth of fuel from KSA
26 Jun 2016
(MENAFN) Egypt received shipments of petroleum products worth almost USD650mn in May and June, as part of the deal with Saudi Arabia.
Accordingly, petroleum shipments value USD300mn was obtained in May, while the value of fuel shipments this month will reach USD350mn.
Additionally, the deal with the Saudi side specifies calculating the value of petroleum products according to international prices.
The Ministry of Petroleum signed a commercial deal with Saudi’s Aramco to supply Egypt with petroleum derivatives at an interest rate of 2 percent.
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