Egypt receives second shipment of Iraqi crude oil

by **claud39** Wed Apr 17, 2019 7:59 am

Egypt receives second shipment of Iraqi crude oil

17/04/2019

Economy News _ Baghdad

Egypt received the second shipment of crude oil from Iraq as part of the renewal of the supply contract agreed with Sumo, Iraq, where Egypt will receive up to 12 million barrels of crude oil.
An official source in the oil sector that the agreement with Iraq was completed for the third year in a row when it was the first treaty in 2017.
He added that Iraqi crude oil refining products are put on the domestic market and that Iraqi crude oil is one of the main sources of access to imported crude oil for refining .
He added that the contracts of foreign government imports include contracts of Iraqi and Kuwaiti crude oil and Arab oil through contracts with Saudi Aramco. He said that what is going on in the liquidation process, in particular had the opportunity to sell crude oil in the international market for the purchase, and that not limited to crude oil from Before the Petroleum Authority.
Medhat Yousef, former deputy chairman of the Petroleum Authority, said that the external deliveries would be completed by the General Petroleum Corporation, funded by AMOC and MIDOR. Al-Masry Al-Youm added that AMOC is not one of its activities to purchase crude oil. In recent years, AMOC has been mandated to refine MIDOR to refine crude oil and market AMOC for its products.

http://economy-news.net/content.php?id=16301