Aramco is likely to use Egyptian Pipeline to convey oil to Europe

12/09/2017 14:09 Biofuels

news

Selling more oil to Europe is the strategical and economical purpose of the Saudi Aramco. 

It is likely that the Europeans will get oil via a pipeline that runs through Egypt.

 

The Monday meeting between the CEO of Aramco’s trading wing and Egyptian oil minister concluded that the pipeline terminal could become a key industry hub.

 

The pipeline in question has several shareholders: the Egyptian General Petroleum Corporation (EGPC), which holds 50 percent of the facility’s assets, Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.

 

It is worthy to be noted that Saudi Arabia, Bahrain, the United Arab Emirates, and Egypt have ceased diplomatic and commercial relationships with Qatar suspecting it of having ties to Iran and terrorist groups in the region.  


Apparently, this situation could affect Aramco’s plans to supply Europe with oil via Egypt.  

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