Good news for our energy hub ambitions: Saudi Aramco is considering using excess capacity at Egyptian refineries to refine Saudi crude and use Egypt as a marketing hub for refined Saudi oil products, according to Ahram Gate. The suggested plan is to ship the crude through the SUMED pipeline and use Sidi Kreir as a center for exporting refined output to Europe. Also being considered is using the storage capacity in Egypt. Both Kuwait and Iraq supply around 2 mn bbl of crude each month to be refined in Egypt. A source at EGPC said Egypt is set to receive the fifth shipment of Iraqi crude in the agreement on Wednesday.

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