Egypt renews Iraqi crude oil import agreement for another year

Iraq

Egypt has reportedly renewed an agreement to import crude oil from Iraq, an official at state petroleum buyer EGPC tells Reuters’ Arabic service. The contract was renewed for another year and will see Egypt import 12 million barrels of Iraqi crude that will be delivered in 2 million barrel shipments every two months starting January, the official says. Oil Minister Tarek El Molla had announced in November that the government was in talks with Iraq to buy as much as 24 million barrels of crude a year.

(Source: Enterprise.press)

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