Reuters: Saudi Aramco halts oil supplies to Egypt
As per an agreement signed between the two countries, Saudi Arabia is in charge of providing 700,000 tons of refined oil products per month for five years to Egypt. The $23 billion agreement was inked between Saudi Aramco and EGPC in 2015.
However, some media reports claimed that Saudi Aramco denied that it has officially suspended the contract. Instead, the company reported that the petroleum shipments have been delayed due to the revision of Saudi Arabia’s market share following a preliminary oil output deal in Algeria to cut production.
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