Egypt to purchase 4 mn barrels of crude from Iraq

ENERGY-

Iraq to renew agreement with EGPC: Iraqi ministers have agreed to renew a contract with the Egyptian General Petroleum Corporation (EGPC), allowing it to import some 4 mn bbl of crude in June and August, the Iraqi cabinet said in a statement yesterday. The state oil company will purchase 2 mn barrels in each of June and August, according to the statement. The two sides initially signed the agreement in 2017 for Egypt to import 1 mn bbl of crude from Iraq each month.