The Egyptian General Petroleum Corporation (EGPC) will receive up to 665,000t of gasoil over 19 cargos, each containing 30,000t to 35,000t. The shipments will be delivered in November, with 10 cargoes arriving at Alexandria and El Dekheila, 6 at Suez, and 3 at Ain Sukhna, reported Reuters.
EGPC also announced additional tenders to buy 132,000t of gasoline and 560,000t of gasoil for October arrival, thus Egypt had reached its largest purchase tenders in months. These purchases could suggest a delay or suspension of Saudi Aramco products under the 700,000t/m supply deal, according to Egypt Independent.
Under the deal, Aramco agreed to provide 400,000t of gas oil, 200,000t of gasoline, and 100,000t of fuel oil per month, all on a credit line with a 2% interest rate to be repaid over 15 years. However, Egypt has not received October allocations of petroleum aid the kingdom.
A spokesman from the Egyptian Ministry of Petroleum and Mineral Resources stated that it is normal for EGPC to increase the number of tenders. He added that he has no information regarding supply cut as it is still early to conclude that Saudi Arabia is not sending October deliveries.