Egypt to renew KNPC contract

Ministry of Petroleum and Mineral Resources in Egypt has stated that it intends to renew its contract with Kuwait Petroleum Corporation (KPC) to import crude oil starting from January 2020. The Egyptian Public Authority for Petroleum has four contracts with major Arab institutions and companies to provide crude oil to meet local market needs for petroleum products, in addition to meet local production.

High level sources in the Egyptian petroleum sector revealed that oil and petroleum products will be imported from companies and international institutions such as KPC in Kuwait, ADNOC in the UAE, ARAMCO in Saudi Arabia and SOMO oil marketing company in Iraq.