CAIRO Oct 9 (Reuters) - Egypt's recent spike in purchase tenders for petroleum products is part of ongoing efforts to build strategic stocks, the petroleum ministry spokesman said on Sunday on local television amid questions over a possible suspension of Saudi oil aid.
Saudi Arabia agreed to provide Egypt with 700,000 tonnes of refined oil products per month for five years under a $23 billion deal between Saudi Aramco and the Egyptian General Petroleum Corporation (EGPC) signed during a state visit this year by Saudi Arabia's King Salman.
Egypt has not received October allocations of petroleum aid from Saudi Arabia, traders told Reuters, forcing its state oil buyer to rapidly increase tenders even amid a severe dollar shortage and growing arrears to oil producers.
