Egypt wants to double oil imports from Kuwait next year

Egypt wants to double its crude imports from Kuwait to 4 mn bbl a month next year, official sources told Al Rai. The government has reportedly asked to renew its three-year oil supply contract when it expires, but has requested more favorable payment terms which would extend the grace period to 16 months from 9 months. Egypt also imports 1.2 mn tonnes of petroleum products under the current contract.