Egypt is set to receive the first shipment of 2 million barrels of Iraqi oil next week. He told Daily News Egypt that the shipments will be received according to a timetable every month, where 12 million barrels will be received this year. Ezz El Regal stressed that Saudi Aramco shipments are being received regularly according to the contracts. Saudi Aramco announced in mid-March that it was resuming the supply of its oil shipments of 700,000 tonnes per month to Egypt, following a five-month suspension, which forced Egypt to look for other alternatives and sign the agreement with Iraq. The cabinet had approved the agreement of importing 12 million barrels of oil from Iraq, which will be divided into 1 million barrels per month.

Source: Daily News Egypt May 10, 2017 17:26 UTC