The Egyptian Government agrees to buy Iraqi crude

2017/4/10 18:06


Tarek, Egyptian oil Minister, said the Government agreed to buy Iraqi oil, 1 million barrels in the month by 12 million barrels per year.

He said, during a press conference at the headquarters of the Council of Ministers, that this is the first contract between Egypt and Iraq to buy raw, especially good species Basra ore he will sign the final agreement in the next few days. To be signed between the Egyptian oil Ministry and Iraqi counterparts.

It was supposed that the agreement enters into force early this year, but the mysterious reasons prevented that.

Egypt and Iraq signed the agreement in 2016, subject to discussion again while visiting Egyptian oil Minister, Tariq, to Baghdad at the end of last October.

Egypt believes that the agreement if activated, in the interest of the two countries, because it will cover the needs of the Iraqi side of the petroleum products, especially as Egypt has a high potential for refining the ore Basra, in addition to providing raw you want to Cairo.