Kuwait doubles crude stored in Egypt

Kuwait has reportedly doubled the monthly amounts of crude to be stored in Egypt to 4 mn bbl, Al Masry Al Youm reported. The Kuwait Petroleum Corporation renewed its contract this month with SUMED to strengthen its presence in Mediterranean countries, Kuwait’s state newspaper Al Anba reported. The crude is shipped to the Ain Al-Sokhna port, transferred through pipelines to the Sidi Kerir Port, and stored near there before being sold in European markets, sources said.