Saudi Aramco is likely to begin refining crude oil in Egyptian refineries in 1Q2018, an official from the Oil Ministry tells Al Shorouk, initially at the Middle East Oil Refinery (MIDOR). Egypt will receive the 700k tons of fuel per month from Aramco — under the existing five-year fuel supply agreement — for MIDOR’s refineries, with excess output being exported, the official stated.
The official noted that talks are still ongoing with the Saudi’s largest oil producer. Oil Minister Tarek El Molla had confirmed earlier this month that talks had been taking place with Aramco to refine fuel here and that refining would begin at some point in early 2018. This follows other reports that Aramco had agreed to a plan last month to ship crude through the SUMED pipeline and use Sidi Kerir as a center for exporting refined output to Europe.