Saudi Arabia’s fuel donation to Egypt ‘will cross US$3 billion in five months’

barrel saudi- L.C.Nøttaasen wikimediaThe fuel is reportedly a part of an aid package to support the strife-torn country. (Image source: LC Nøttaasen/Wikimedia Commons)Saudi Arabia’s fuel donations to Egypt from April to August this year will reach more than US$3bn, according to an Egyptian energy official

Tarek Al Molla, head of state-run Egyptian General Petroleum Corporation (EGPC), said, “Egypt had received an oil shipment from Saudi Arabia at a value of between US$650mn and US$$700mn in April and would keep getting the same amount monthly through August.

“Saudi petroleum aid to Egypt will be more than US$3bn from April until the end of August,” he told Reuters.

The Saudi Arabian shipments include diesel, fuel oil and gasoline, which are needed to resolve frequent power outages and meet the growing needs of power stations in the Arab world's most populous country.

Al Molla, however, did not specify whether this aid came in addition to the US$2bn worth of petrol product donations announced by the kingdom in 2013.

 

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