Tag Archives: Egypt Fuel Supply

Allies No More? Saudi Suddenly Halts Egypt Fuel Shipments

Close allies Egypt and Saudi Arabia are having their first public spat since Egyptian President Abdel-Fattah el-Sissi took office two years ago. The disagreement is over Syria, where Riyadh says Syrian President Bashar Assad must be removed for that country’s civil war to end, while Cairo advocates a political process that denies Islamic militants any role in Syria’s future. Egypt voted in favor of separate Russian and French draft resolutions on Syria at the U.N. Security Council on Saturday, Oct. 8, 2016. (Photo: MENA)

By The Associated Press,

Egypt says it has secured fuel imports to make up for a shortfall caused by Saudi Arabia’s abrupt decision to halt previously agreed shipments, avoiding a potentially politically costly fuel shortage and propelling the issue of oil onto the center stage of an escalating Saudi-Egypt spat.

Saudi Arabia agreed in April to provide Egypt with 700,000 tons of fuel monthly for five years on easy repayment terms, but Egyptian officials said this week that Saudi Arabia’s Aramco, the world’s largest oil company, informed Cairo it would not ship any fuel this month. Continue reading Allies No More? Saudi Suddenly Halts Egypt Fuel Shipments