The five-year-long agreement on the supply of petroleum products with Saudi Aramco is still valid and has not been cancelled, but Egypt has alternatives available if Saudi oil supplies are interrupted, said Petroleum Minister Tariq al-Molla on Tuesday as reported by Egypt Independent.
Aramco’s October oil deliveries to Egypt were suspended, but Saudi has not yet clarified the reason behind the delay. In addition, Aramco has not yet informed the Egyptian government whether the November deliveries would be dispatched.
Last week, meanwhile, a government official told Reuters that Aramco had informed the Egyptian General Petroleum Corporation (EGPC) in early October that it would halt the supply of refined oil products to Egypt.
While Egyptian officials have rejected any link between this and diplomatic tensions, Molla appears keen to assert that Egypt is able to meet its domestic needs by other means if necessary.
Government sources told Al-Masry Al-Youm on Tuesday that Egypt could meet its domestic needs from other suppliers, including the UAE, which, according to media reports, has offered similar facilities to those provided by Aramco. The sources added that Egypt is close to signing an agreement with the UAE.
The sources refused to disclose whether Egypt was negotiating with countries other than the UAE, but they said that Egypt’s petrol needs could be provided through global tenders.
“If an Aramco delay in providing petroleum products recurs, Egypt will resort to the international market and tenders… as was the case before the Aramco agreement,” Molla said on Tuesday.
