Iraq to Supply Egypt with 4M Barrels of Oil Monthly
From Daily News Egypt
By Lamia Nabil
Egypt and Iraq have signed an agreement which will supply Egypt with 4 million barrels of Iraqi crude oil per month and 4,000 tonnes of diesel per day.
The agreement was concluded during Prime Minister Hesham Qandil’s recent visit to Iraq.
The oil will be supplied to Egypt via pipelines across the Gulf of Aqaba.
Minister of petroleum Ossama Kamal said he expected a “breakthrough” in the fuel shortage crisis currently gripping the nation after the Iraqi oil agreement, according to his press conference last Monday.
Kamal also said that the agreement will contribute to fill part of the gap between Egypt’s production of diesel, currently 22,000 tonnes per day, and its consumption, currently 35,000 tonnes per day.
An Egyptian, Iraqi, and Jordanian tripartite meeting will take place during a week to sign the $17bn project’s general framework.
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