Egypt receives US$2.48 billion fuel aid in four months

barrels-A is for Angie flickrThe fuel is reportedly a part of an aid package to support country in turmoil. (Image source: A is for Angie/Flickr)Egypt has received fuel worth US$2.48bn from Saudi Arabia, the UAE and Kuwait since July this year till the end of November, according to an unnamed Egyptian government official

The fuel is reportedly a part of an aid package to support the strife-torn country.

“The total of the petrol aid that Egypt received until the end of November is US$1bn from Saudi Arabia, US$820mn from the UAE and US$660mn from Kuwait,” the official told Reuters.

In September, Hisham Ramez, Egypt’s central bank governor, had said the country had, so far, also received US$7bn in aid — US$3bn from the UAE and US$2bn each from Saudi Arabia and Kuwait.

Sherif Ismail, Egypt’s oil minister, also added in October that the three countries had agreed to supply Egypt with oil products until the end of December 2013.

 

READ MORE...

Kuwait delivers ‘free’ crude and diesel to Egypt

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

twn Are you sure that you want to switch to desktop version?