Cairo: Abu Dhabi National Oil Company (Adnoc) will start monthly deliveries of $400 million (Dh1.5 billion) of petroleum products to Egypt from next week until the end of October, a source at the state-owned Egyptian General Petroleum Corporation (EGPC) said on Thursday. “It is expected the first shipments will arrive in a week from now,” the source said. He added that Egypt will receive the products on credit and was still negotiating the interest rate for payment. Adnoc is seeking a 3 per cent rate, the source said. The deal to supply the products was agreed to last year.
Adnoc to start monthly oil product deliveries to Egypt next week
Company to begin monthly deliveries of $400m of petroleum products to Egypt from next week until the end of October