The first 2 million-barrel crude oil shipment coming from Iraq will arrive in Egypt’s capital of Cairo, on February 15.
The crude oil shipment left Iraqi ports days ago and the ships are on their way to Cairo, according to an Egyptian General Petroleum Corporation (EGPC) source.
In January, Egypt renewed a contract to import 12 million barrels of Iraqi crude oil over the coming year, an official at EGPC stated.
The official, who declined to be named, said that six 2-million barrel cargoes of crude would be supplied over the course of a year, starting this month.
The Iraqi deal was originally agreed last April with the first shipment arriving in May. Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand.
SOURCE
The crude oil shipment left Iraqi ports days ago and the ships are on their way to Cairo, according to an Egyptian General Petroleum Corporation (EGPC) source.
In January, Egypt renewed a contract to import 12 million barrels of Iraqi crude oil over the coming year, an official at EGPC stated.
The official, who declined to be named, said that six 2-million barrel cargoes of crude would be supplied over the course of a year, starting this month.
The Iraqi deal was originally agreed last April with the first shipment arriving in May. Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand.
SOURCE
