Egypt receives second shipment of Iraqi crude oil

[yota691]

Sadr: Egyptian delegation to visit Iraq "soon" to sign oil import contract with SOMO

Political

 Since 04/06/2017 16:18 am (Baghdad time)

Follow - up to the balance of News 
Habib said Sadr , Iraq's ambassador to Egypt on Thursday that a delegation from the Egyptian Ministry of Petroleum will visit Iraq "soon" to sign the import of one million barrels of crude oil per month contract for one year. 
Sadr 's remarks come after the local newspaper money today quoted government sources as unnamed that Egypt has decided not to complete the import of crude oil from Iraq deal due to the lack of agreement to allow the resumption of supplies from Saudi Aramco petroleum products period. 
Sadr said , according to a press statement in Egypt today , " I am surprised that published today that the agreement is continuous from the Egyptian side because I was on a visit to the minister last night and assured me that his country is pushing ahead with its agreement with Iraq on providing one million barrels of oil per month be increased for one year and conditions repayment. " 
" The Egyptian minister informed that the governments are ready and willing to fully implement the agreement and completed its part , all the arrangements necessary to give effect to such procedures. The minister promised me that there is an Egyptian delegation will visit Iraq soon to sign a contract with the Iraqi Oil Marketing Company (SOMO). I expect that will soon mean within a week to ten days". 
Egypt had agreed with Iraq in February to import a million barrels of crude oil per month for the first year of March initially , but the final contract was not signed and did not reach any shipments of Iraqi oil to Egypt in March. 
The Egyptian Oil Minister Tariq al- Mulla said Thursday in a press statement that his country is still continuing in negotiations with Iraq to import two million barrels of crude oil per month to the contract being signed soon. 
The newspaper quoted sources that "Egypt has asked Iraq granted years to pay off the value of crude Basra , Iraq agreed , but only 90 days , which has not been accepted by the government." 
Sadr said " the agreement provides for the repayment grace period of 90 days from the date of receipt of shipments ... Egyptian minister assured us that Aramco covers only 20 percent of the country 's needs of oil products." 
Saudi Aramco and re - largest oil company in the world 's supply of Egypt by about 700 thousand tons per month from the end of the petroleum March after being suspended in October. 
Sadr said the Iraqi government agreed last week on the "D tubes for oil and gas from Iraq to Jordan and then to Egypt ... the cost of laying tubes of six billion dollars and Sastgrkan three years and we will soon begin to work in this strategic project to link Arab countries." 
" The project will provide Jordan and Egypt needs and over needs will be exported to overseas markets." 
Egypt signed in November 2015 a memorandum of understanding with Iraq and Jordan provides Baghdad , under which Jordan and Egypt oil and gas materials. 
Ended 
m h n

[10 YEARS LATER]

If there's something I don't feel like doing right away, I tell my wife " I'll get to it SOON "

makes her crazy !

[yota691]

04/08/2017 (00:01 pm)   -   Number of readings: 89   -   Issue (3896)

 

 

Habib al-Sadr: Egyptian delegation to visit Iraq "soon" to sign oil import contract with SOMO

 

Habib Sadr , Iraq's ambassador to Egypt, said in a press statement, said that a delegation from the Egyptian Ministry of Petroleum, will visit Iraq "soon" to sign a contract to import one million barrels, of crude oil per month for one year. Sadr 's remarks came after the local newspaper quoted the money last Thursday, government sources did not name, that Egypt decided not to complete the import of crude oil from Iraq deal, due to the lack of agreement to allow the resumption of supplies from Saudi Aramco petroleum products period. Sadr said , "surprised at what was published today, that the agreement is continuous from the Egyptian side, because I was on a visit to the minister last night, and assured me that his country is pushing ahead with its agreement with Iraq on providing one million barrels of oil per month can be increased, for one year and the terms of repayment soft. He added, The Egyptian minister was informed that the Governments are ready and fully prepared to implement the agreement, and ended its part , all the arrangements necessary for the implementation of this action. The minister promised me that there is an Egyptian delegation, will visit Iraq soon, to sign the contract with the Iraqi oil Marketing company (SOMO) . I expect that will soon mean within a week to ten any M." 
Egypt had agreed with Iraq in February, on the import of one million barrels of crude oil per month, for one year from the first of March, initially, but the final contract was not signed and did not reach any shipments of Iraqi oil to Egypt in March. He said Egyptian Minister of Petroleum, Tariq al- Mulla, last Thursday, in a press statement that his country is still continuing in negotiations with Iraq to import two million barrels of crude oil per month, that the contract is being signed soon. The newspaper quoted its sources, that "Egypt has asked Iraq granted years to pay off the value of Basra crude, but Iraq agreed to only 90 days, which has not been accepted by the government." 
As al- Sadr , said that the agreement provides for the repayment grace period of 90 days from the date of receipt of shipments ... Egyptian minister assured us that Aramco, covers only 20 percent of the country 's needs of oil materials. Saudi Aramco and re - largest oil company in the world 's supply of Egypt by about 700 thousand tons per month, from the petroleum end of March, after being stopped in October. 
He said al- Sadr, the Iraqi government agreed last week, "D tubes for oil and gas from Iraq to Jordan and then to Egypt ... the cost of laying tubes of six billion dollars, and Sastgrkan three years, and we will soon begin to work in this strategic project to link Arab countries , the project will provide Jordan and Egypt , and their needs over the needs will be exported to overseas markets. " 
Egypt signed in November 2015 a memorandum of understanding with Iraq and Jordan, Baghdad , which provides Jordan and Egypt oil and gas materials.

[yota691]

GMT 9:40 2017 Althelaia April 11 : Last Updated

The Egyptian government agrees to buy 12 million barrels of oil per year from Iraq

Me. Me. CNN.

• 
  Oil, which will sell Iraq to Egypt for Basrah Light

  Reuters

 

 

Oil, which will sell Iraq to Egypt for Basrah Light

Reuters

 

 

 

The Egyptian government has agreed to buy 12 million barrels of oil per year from Iraq, under an agreement reached by the two governments last year.

He said Egyptian Minister of Petroleum, Tariq al-Mulla, said that this is the first contract of its kind between Egypt and Iraq to buy directly, and the two countries will sign officially in the next few days, the contract to ship the first amount of Iraqi oil to Egypt.

He pointed out the minister, who negotiated the contract with the government in Baghdad since last year, that Egypt is currently crude oil imports from Kuwait and Saudi Arabia, noting that the diversification of the market evidence of the cooperation of Arab countries.

Al Mulla pointed out that Egypt's debts to foreign oil companies amounted to three billion and $ 500 thousand, indicating that the government is working on leaps and bounds to be reduced.

It resumed Saudi Aramco in recent shipments of petroleum products to Egypt after a lapse of six months, while the Egyptian government renewed its contract for the supply of oil from Kuwait for another three years ending in 2019.

Favorable terms

The two countries signed in March / March last year agreement to supply Egypt one million barrels of oil per month, Basrah Light, can be increased later and the terms of payment of soft.

The Cairo and Baghdad discussed the terms of the agreement during a visit to Baghdad, Mullah at the end of October / October 2016.

The visit came after Mullah stopped the supply of Saudi Aramco Egypt about 700 thousand tons of petroleum products, in the framework of a long-term agreement between Riyadh and Cairo, after strained relations between them for months because of bilateral and regional issues.

The Mulla said during his visit to Baghdad that "Egypt has a surplus refining capacities can be exploited in the refining of Basra crude, in order to bridge the Iraqi side of the oil derivatives needs, as well as raw you want Egypt to buy it."

Egyptian companies working now - according to what was said Mullah - in Basra, southern Iraq in the oil and gas fields. The Egyptian Petroleum Authority partner in the oil field, "Block 9" in southern Iraq by 10 percent.

In November last, the Egyptian Petroleum Ministry announced that Kuwait agreed to renew a contract with Egypt to supply two million barrels of crude oil, effective from January 2017.

The Saudi Arabia has agreed for the supply of Egypt oil products refined for a period of five years, under an agreement worth $ 23 billion between Saudi Aramco and the Egyptian General Petroleum Corporation, signed during an official visit to the Saudi monarch, King Salman bin Abdul Aziz, Egypt last year.

The company then Saudi Arabia has stopped the supply of oil Egypt following a dispute between the two countries over the conflict in Syria, Egypt and the convergence of more than Russia, the main supporter of President Bashar al-Assad, who opposes Saudi Arabia.

[Wiljor]

EGYPT APPROVES DEAL TO IMPORT OIL FROM IRAQ-IRAQ

Iraq, April 12, 2017 The Egyptian Petroleum Minister, Tareq al-Mulla (pictured) has stated that the Egyptian cabinet, during its meeting on 10 April under Prime Minister Sherif Ismail, approved buying oil from Iraq and clinching a deal to import about million barrels monthly, with a total of 12 million barrels annually. Mulla added that the first oil shipment is envisaged to arrive by early May. The container ship can accommodate up to million barrels, Mulla said, noting that this is the first cooperation with Iraq in the field of direct importation of crude oil. He added that the contract will be shortly inked by the Egyptian General Petroleum Corporation (EGPC) and Iraq Petroleum Company (IPC). He further said that talks on importing the Iraqi oil started last October during his visit to Iraq. iraq-businessnews http://iraqdailyjournal.com/story-z15115397

[tigergorzow]

Iraq to Ship 1 Million Barrels of Oil to Egypt

Shoguna B. Sobir

14/04/2017 - 20:08

World

 

 

 

 

ISTANBUL — The Egyptian Cabinet has agreed to the import of one million barrels of oil from Iraq each month, for a total of 12 months, said Egypt’s Minister of Petroleum & Mineral Resources, Tareq el-Molla.

The decision to seek out other sources of oil came following the suspension of Saudi Arabian oil shipments to Egypt in late 2016.

The deal will be made official following the signing of the contract by both sides party to the deal, he said during a press conference, according to Egypt Independent. The parties involved are the Egyptian Petroleum Authority and the Iraqi Petroleum Company.

The first shipment is expected to arrive on May 1st.

“This step is very good as it’s the first cooperation with Iraq in the direct import of crude oil,” said el-Molla.

Negotiations began during el-Molla’s visit to Iraq last October.

http://www.basnews.com/index.php/en/economy/world/343030

[Wiljor]

By the looks of that picture in your article tiger, black gold is just under the sand, just like in the Beverly Hillbillies  

[Rmc10]

11 minutes ago, Wiljor said:

By the looks of that picture in your article tiger, black gold is just under the sand, just like in the Beverly Hillbillies  

I just watched that movie the other day. Love it!

[ChuckFinley]

There seems to be a lot of international deals being done.  Just another sign things are moving forward.  

[yota691]

Egypt announces the payment of Iraqi oil money within three months

 

 

Economy News Baghdad  said Egyptian Minister of Oil, Tariq al- Mulla, Sunday that Egypt had agreed with Iraq to grant facilities up to 90 days in the payment of the value of oil shipments , which will be imported from Iraq.  Mullah said in an interview with "Economy News" that "it was agreed on 90 days to facilitate the payment of the import of one million barrels of oil per month."  The Egyptian cabinet agreed at its meeting on Monday to import Iraqi oil, an average of one million barrels per month. Payment is made in accordance with oil prices on world markets at the time of shipment.  Mullah said that "the agreement is the first cooperation with Iraq in the field of direct import of crude and will be the contract between the Petroleum Authority and the Iraqi Oil Corporation during the next few days," and expected the arrival of the first shipment during the month or next.
Number of Views 506   Date Added 16/04/2017 - 19:07   Last Updated 17/04/2017 - 14:10   Content Number 7159

[yota691]

Iraqi oil up to Egypt early next month

 

 

Economy News Baghdad:  Announced Iraq's ambassador to Egypt, Habib al-Sadr on Saturday, said he expected the arrival of the first shipment of oil Iraqi to Cairo early next May. Sadr said in an interview I followed "Economy News", the "Convention completed all aspects of its procedures and we expect the arrival of the first Iraqi oil shipment which is about two million barrels of Basrah light early next May, and the terms of payment of soft and this will be the gateway for other economic projects." He added that "the Iraqi government were not the intention at all through the export of this oil shipment to Egypt to exploit a particular opportunity or invest a certain rivalry, but Iraq looks grand sister Egyptian as the main pillar in the Arab world and believes that the strength of Egypt is very essential to the strength and cohesion of the Arab world." .
Views 102   Date Added 29/04/2017 - 19:07   Last updated 29/04/2017 - 20:21   No. Content 7349

[yota691]

Egypt receives first shipment of Iraqi oil

Ali Rasouli May 1, 2017 36 Visit

 

 

 

BAGHDAD (Reuters) -

Said Egyptian Oil Minister Tariq al-Mulla said Monday that his country will receive the first shipments of Iraqi oil and the estimated size of about 2 million barrels of crude oil on May 12 this month.

Mulla said, in a statement to the "seventh day", it "has been completed mobilization of the Egyptian tanker port of Basra, and began to move to Egyptian ports," noting that "this contract is a good start to cooperate with the Iraqi side in many areas during the coming period, especially the participation of Egyptian companies in the rehabilitation of Iraqi oil facilities. "

The minister stressed that "the agreement between Cairo and Baghdad to import oil was not a substitute for shipments (Aramco), Saudi Arabia."

Under the contract, according to Mullah with the Iraqi side on the supply of 12 million barrels per year of Basrah Light for renewable years, and the terms of payment of soft, plus it will be the Iraqi oil refinery in the Egyptian refineries.

General Petroleum Corporation is seeking to secure Egypt's needs of fuel through the conclusion of several government agreements to import oil, where the Authority has renewed its agreement with the Kuwait Petroleum Corporation, for a period of 3 years to supply about 1.5 million tons per year of petroleum products.

And about 2 million barrels of crude per month to refine the Egyptian laboratories, to allow payment of the value of the supply of petroleum products to 180 days, and 270 days for a period of supply of crude.

[tigergorzow]

Yota Thanks,  DV,  Excellent news....😁😊

[yota691]

Iraq starts exporting the first shipment of crude oil to Egypt

History of edits:: 2017/5/4 13:40 • 3 times readable

[Oan- Baghdad] 
Oil Ministry announced for the export of the first shipment of crude oil to Egypt through the southern ports tonnage of two million barrels.

Said ministry spokesman Assem Jihad said in a statement received by all of Iraq [where] a copy of it, that " the process of loading the Egyptian tanker crude oil began on Wednesday, in the southern ports where the tanker is equipped with two million barrels of crude oil out of the 12 million barrels ". 
He explained that "it is part of the agreement between Iraq and Egypt, which requires providing the Egyptian side , the amount of 12 million barrels per year by two million barrels per month." 
Iraq has signed an agreement with the Egyptian General Petroleum Corporation to supply two weeks ago , 12 million barrels per year of Basrah light crude.

[blueskyline]

Thank You Yota . GM DV's . Good For Them . Rock and Roll 🎸 

[Wiljor]

 

Iraq, May 5, 2017 

Iraq has started sending the first crude oil shipments to Egypt under a bilateral agreement between the two countries, the oil ministry in Baghdad announced yesterday.

According to ministry spokesman Assam Jihad, the loading of two million barrels of crude into an Egyptian tanker began on Wednesday. Iraq is set to export 12 million barrels of oil to Egypt under a one-year agreement that was signed last month between Baghdad and Cairo, he explained.

Moreover, the state-owned Egyptian General Petroleum Corporation recently renewed its agreement with the Kuwait Petroleum Corporation. Under the deal, petroleum products and crude oil will be supplied to Egypt for an additional three years.

Egypt has been experiencing a dramatic shortage in oil supply since November last year, when the Saudi Aramco oil company halted shipments to Cairo that had been part of a multi-billion dollar aid deal. However, in March, Aramco announced the resumption of the oil shipments to Egypt in an attempt to restore close links between the two countries, after a six-month suspension of what are reportedly strained relations.

middleeastmonitor

 

http://iraqdailyjournal.com/story-z15234448

[ChuckFinley]

Well, international trade is picking up. I do not know what the next excuse is going to be, there should not be that many left.  Let's get this done. 

[10 YEARS LATER]

2 hours ago, Wiljor said:

 

Iraq, May 5, 2017 

Iraq has started sending the first crude oil shipments to Egypt under a bilateral agreement between the two countries, the oil ministry in Baghdad announced yesterday.

According to ministry spokesman Assam Jihad, the loading of two million barrels of crude into an Egyptian tanker began on Wednesday. Iraq is set to export 12 million barrels of oil to Egypt under a one-year agreement that was signed last month between Baghdad and Cairo, he explained.

Moreover, the state-owned Egyptian General Petroleum Corporation recently renewed its agreement with the Kuwait Petroleum Corporation. Under the deal, petroleum products and crude oil will be supplied to Egypt for an additional three years.

Egypt has been experiencing a dramatic shortage in oil supply since November last year, when the Saudi Aramco oil company halted shipments to Cairo that had been part of a multi-billion dollar aid deal. However, in March, Aramco announced the resumption of the oil shipments to Egypt in an attempt to restore close links between the two countries, after a six-month suspension of what are reportedly strained relations.

middleeastmonitor

 

http://iraqdailyjournal.com/story-z15234448

 

58 minutes ago, ChuckFinley said:

Well, international trade is picking up. I do not know what the next excuse is going to be, there should not be that many left.  Let's get this done. 

 

GUYS ! Have I completely lost my mind or does this suggest the HCL was/has/is a done deal ? or . . . should I just carry on drinking and Forgedaboutit ! ? !

[Wiljor]

1 hour ago, 10 YEARS LATER said:

 

 

GUYS ! Have I completely lost my mind or does this suggest the HCL was/has/is a done deal ? or . . . should I just carry on drinking and Forgedaboutit ! ? !

 

Have not lost your mind at all brother, I believe that in order for HCL to be implemented and it's citizens begin to receive their share they must have a bank account and e card which comes with the financial and economic reform being set in place as we speak  

I could be wrong but in the mean time...................... have another on me 

[10 YEARS LATER]

46 minutes ago, Wiljor said:

 

Have not lost your mind at all brother, I believe that in order for HCL to be implemented and it's citizens begin to receive their share they must have a bank account and e card which comes with the financial and economic reform being set in place as we speak  

I could be wrong but in the mean time...................... have another on me 

 

I am picking up what you're laying down brother Wiljor - and in the mean time . . . " I drink therefore I am " Don't ya just love philosophy that works. 

[Wiljor]

31 minutes ago, 10 YEARS LATER said:

 

I am picking up what you're laying down brother Wiljor - and in the mean time . . . " I drink therefore I am " Don't ya just love philosophy that works. 

 

Yea and its simple philosophy, not that complicated Froydian crap 

[yota691]

Egyptian sources: the arrival of the first shipment «Iraqi oil» within days

 

 

Economy News Baghdad : Revealed an official in the Ministry of Petroleum Egypt, on Thursday, all that Egypt expects the arrival of the first shipment of oil crude from Iraq, mid - May this . Under the agreement reached to Egypt and Iraq, the month last, sell Baghdad 12 million barrels of oil, to Egypt, for a year . And it began to Iraq, on Thursday last, loaded tanker with two million barrels of oil crude, for export to Egypt . In the meantime , the re - Aramco , Saudi Arabia, the largest company of oil in the world, supplying Egypt about 700 thousand tons per month of material petroleum, the end of March, after that I stopped in October the first .
Views 53   Date Added 05/11/2017 - 14:34   Last updated 05/11/2017 - 19:26   No. Content 7499

[Synopsis]

Hmmmmmmmmmmm.......................................

 

I wonder if the Iraqi oil being sold to Egypt is in, any shape or form, tied to the currency auction of IQD for USD that an Abu Dhabi bank in apparently Egypt conducted recently???

 

Maybe an indication of Iraqi Oil being bought and sold on an international basis using IQD???

 

Just my opinion and  but it is really, really hard to contain or limit optimism at this point! Anybody else experiencing the same difficulty? Yep, Yep, containing or limiting optimism is a terrible problem to have!!!       

 

WOW, MOOLA NOVA (OH, YEAH, BABY - BRING IT ON)!!!

                        

[Freedomwish]

On 5/6/2017 at 2:27 PM, 10 YEARS LATER said:

 

 

GUYS ! Have I completely lost my mind or does this suggest the HCL was/has/is a done deal ? or . . . should I just carry on drinking and Forgedaboutit ! ? !

 

My whiskey and Adam's gin & juice both had suggested to us at the bar last month, that the HCL is already a done deal.....just not ready to be officially announced to the public....yet 

[ChuckFinley]

4 hours ago, Freedomwish said:

 

My whiskey and Adam's gin & juice both had suggested to us at the bar last month, that the HCL is already a done deal.....just not ready to be officially announced to the public....yet 

May I have a Scotch please.