{"id":650189,"date":"2017-03-19T04:01:10","date_gmt":"2017-03-19T04:01:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/"},"modified":"2017-03-19T04:01:10","modified_gmt":"2017-03-19T04:01:10","slug":"aramco-shipments-officially-resume","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/","title":{"rendered":"Aramco shipments officially resume"},"content":{"rendered":"

<\/a> Saudi Aramco has resume shipments of petroleum products to Egypt<\/strong>, which received shipments on both Friday and Saturday, Oil Minister Tarek El Molla told CBC\u2019s Lamees El Hadidi last night (watch<\/a>, runtime 9:47). The next two shipments are scheduled to arrive on 25 and 26 March and will then return to a regular schedule from next month. Egypt is set to buy c. USD 320-340 mn each month at today\u2019s prices. El Molla had told Reuters<\/a>\u2019 Arabic service on Thursday that the shipments were expected to resume by the end of March or in early April. The resumption of shipments \u2014 part of a USD 23 bn, five-year supply agreement halted last year amid rising tensions between Cairo and Riyadh \u2014 was announced last Wednesday<\/a>.<\/p>\n

Commitments to other fuel import agreements putting financial strain on the EGPC:<\/strong>The agreement<\/a> to import 1 mn barrels of crude oil per month from Iraq is still on and was not a replacement for Saudi oil, El Molla added. Sources from the Oil Ministry said the Iraq contract will go into effect by mid-April at the latest, according to Iraq Tradelink News Agency<\/a>. The Oil Ministry had confirmed last week<\/a> that Egypt remains committed to oil import agreements signed during the spat with Saudi, prompting a cash squeeze at the Egyptian General Petroleum Company (EGPC), according to its CEO Tarek Al-Hadidi. The EGPC issued international tenders and sought deals \u201cwith more than 50 international suppliers\u201d after Aramco suspended shipments in October, he told Ahram Weekly<\/a>. The international tenders required the EGPC to pay for shipments within one month of delivery, whereas the Aramco agreement allows Egypt to pay for the shipments in instalments over 15 years.<\/p>\n

In another sign of warming ties between Cairo and Riyadh, the Saudi-Egyptian business<\/strong>council is preparing to hold an investment conference in Cairo this May,<\/strong> with 200 Saudi businessmen expected to attend, the council\u2019s vice president Abdallah bin Mahfouz tells Al Borsa<\/a>. According to Mahfouz, none of the agreements signed between the Saudi and Egyptian governments during King Salman\u2019s visit to Cairo last year have been suspended. Bin Mahfouz says the Kingdom\u2019s private sector has continued to invest in Egypt despite \u201ceconomic hardships\u201d at home.<\/p>\n

Has Trump been playing marriage counselor?<\/strong> Analysts speaking to the Financial Times<\/a> say Donald Trump had focused Egyptian and Saudi minds on a rapprochement. \u201cBecause of the Trump factor and the new Saudi strategy to counter Iran, we are back into a \u2018forgive and forget policy,\u2019\u201d said Abdullah Alshammri, a former Saudi diplomat. \u201cRiyadh\u2019s policy towards Egypt can be described as emergency diplomacy \u2014 it is time to work only against Iran, and we need Cairo.\u201d Ziad Akl, an analyst at Cairo\u2019s Al-Ahram Center for Political and Strategic Studies, said neither country could afford a prolonged rift.<\/p>\n

Saudi is also kicking up the rhetoric about the Muslim Brotherhood being the root of<\/strong>all evil<\/strong>, playing music to Egypt\u2019s ears. A long statement<\/a> released by a senior advisor to Saudi Crown Prince Mohamed bin Salman after the latter\u2019s meeting with Trump notes: \u201cOsama Bin Laden \u2026 was among Muslim Brotherhood since he was a college student, and Al-Zawahiri himself was a member of the Muslim Brotherhood as well.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Aramco has resume shipments of petroleum products to Egypt, which received shipments on both Friday and Saturday, Oil Minister Tarek El Molla told CBC\u2019s Lamees El Hadidi last night (watch, runtime 9:47). The next two shipments are scheduled to arrive on 25 and 26 March and will then return to a regular schedule from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650189","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2e22f8f0-2e97-43cf-810b-d0daac982ba0","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[650182],"teaser":"","voice_url":""},"yoast_head":"\nAramco shipments officially resume - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aramco shipments officially resume\" \/>\n<meta property=\"og:description\" content=\"Saudi Aramco has resume shipments of petroleum products to Egypt, which received shipments on both Friday and Saturday, Oil Minister Tarek El Molla told CBC\u2019s Lamees El Hadidi last night (watch, runtime 9:47). The next two shipments are scheduled to arrive on 25 and 26 March and will then return to a regular schedule from […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-19T04:01:10+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Aramco shipments officially resume\",\"datePublished\":\"2017-03-19T04:01:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\"},\"wordCount\":535,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\",\"name\":\"Aramco shipments officially resume - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-03-19T04:01:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Aramco shipments officially resume\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Aramco shipments officially resume - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/aramco-shipments-officially-resume\/","og_locale":"en_US","og_type":"article","og_title":"Aramco shipments officially resume","og_description":"Saudi Aramco has resume shipments of petroleum products to Egypt, which received shipments on both Friday and Saturday, Oil Minister Tarek El Molla told CBC\u2019s Lamees El Hadidi last night (watch, runtime 9:47). 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Egypt had received the first two shipments under its five-year USD 23 bn agreement with\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651038,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/02\/no-aramco-fuel-shipments-coming-this-month-shocking-we-know\/","url_meta":{"origin":650189,"position":3},"title":"No Aramco fuel shipments coming this month (shocking, we know)","author":"enterpriseam admin","date":"2 February 2017","format":false,"excerpt":"Saudi Aramco has not notified the EGPC that it will resume fuel shipments in February, an unnamed official tells Al Mal. Aramco has halted a five-year USD 23 bn fuel agreement to supply 700k tonnes of petroleum products every month with Egypt for five consecutive months.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650188,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/19\/el-molla-on-the-resurrected-aramco-agreement-wael-fakharany-takes-his-case-against-careem-to-intl-arbitration\/","url_meta":{"origin":650189,"position":4},"title":"El Molla on the resurrected Aramco agreement; Wael Fakharany takes his case against Careem to int\u2019l arbitration","author":"enterpriseam admin","date":"19 March 2017","format":false,"excerpt":"Lamees Al Hadidi was finally back on the airwaves last night and took a moment to reassure everyone that Amr Adib is out of the hospital and on his way to a full recovery from his unspecified health crisis (watch, runtime: 2:56). Al Hadidi spoke with Petroleum Minister Tarek El\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637406,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/15\/natural-gas-act-executive-regs-coming-in-days-talks-with-aramco-on-refining-in-egypt-are-underway\/","url_meta":{"origin":650189,"position":5},"title":"Natural Gas Act executive regs coming in days; talks with Aramco on refining in Egypt are underway","author":"enterpriseam admin","date":"15 November 2017","format":false,"excerpt":"LEGISLATION WATCH- The executive regulations of the Natural Gas Act are coming in days, Oil Minister Tarek El Molla said in an interview with Bloomberg on Tuesday. 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