Negotiations: Importing Petroleum from Kuwait, Saudi Arabia

Egypt has started negotiations with Saudi Arabia and Kuwait over a supply of petroleum products requested to cover the country's needs. The desired fuel sources include diesel oil, butane and natural gas and the supply would cover a one-year period at a total cost of US$4 billion.

Informed sources told Al-Masry Al-Youm that the Egyptian delegation conducting the negotiations is from the Egyptian General Petroleum Corporation. It recently started negotiations with Saudi and Kuwaiti officials over the amounts and time needed for the importing of the oil to Egypt. Egypt will receive the fuel in the form of a facilitated loan to be paid over several years.

Petroleum Minister Sherif Ismail, according to sources, held meetings over Egypt’s provision requirements a few days ago while Prime Minister Ibrahim Mehleb was on an official visit to Kuwait.

Meanwhile, Adnan Abdel Samad, head of the Kuwaiti parliamentary committee for budgets, told Al-Masry Al-Youm that his country still needs to discuss Egypt’s petroleum requests with parliament. He did not clarify the volume of the needs that Egypt requires.

A source from the Kuwaiti Cabinet said, “We have a strong desire to help Egyptian people. Senior officials approved remarks by President Abdel Fattah al-Sisi when he said, ‘When the Arab national security faces a real threat, then it’s a matter of distance.’ We know that Egypt is ready to intervene anytime to protect any Arab country that faces danger.

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