Saudi Aramco to resume oil product shipments to Egypt

CAIRO: Saudi Arabian state oil company Aramco will resume oil product shipments to Egypt some six months after suddenly halting them, the Egyptian Petroleum Ministry said. The ministry said in a statement it was working out a timetable with Aramco for the resumption of shipments and that commercial reasons related to global oil prices and reduced production were behind the suspension in October. “It was agreed that the Saudi Arabian side would resume Aramco’s shipping of oil products as per the commercial contract signed between the Egyptian General Petroleum Corporation and Aramco,” the statement said. — Reuters