Egypt to receive first Iraqi crude shipment on May 12

Egypt to receive first Iraqi crude shipment on May 12

Egypt will start receiving the first Iraqi crude oil shipments of two million barrels on May 12, the country’s Ministry of Petroleum announced.

Egypt’s state oil company EGPC signed two weeks earlier with Iraq a deal to import a total of 12 million barrels of crude oil for one renewable year, that is, million barrels per month from Basra, which would then be refined into petroleum products in Egypt.