Egypt signs contract with Saudi Arabia on importing petroleum products

The Egyptian General Petroleum Corporation (EGPC) signed a contract with Saudi Aramco company for importing petroleum products in the coming five years.

The contract was signed by Aramco’s CEO Yasser al Mofti and CEO of EGPC Mohamed el Masri.

Minister of Petroleum Tarek el Molla witnessed the signing ceremony.

The funding contract for such deal was earlier signed on the sidelines of a meeting of the Egyptian-Saudi coordination council in Riyadh on March 20.

El Molla said the deal reflects the distinguished relation between Egypt and Saudi Arabia.

The contract will provide Egypt with its needs of petroleum products, he added.

Al Mofti said cooperation between Aramco and EGPC serves the interests of the two countries.