• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 1 hour Oil prices going down
  • 4 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 1 day Trump Hits China With Tariffs On $50 Billion Of Goods
  • 4 hours Another WTH? Example of Cheap Renewables
  • 2 days Bullish and bearish outlook for oil
  • 2 days Rolls Royce shedding 4,600 jobs
  • 3 days After Trump-KJU, Trump-Putin Summit
  • 1 hour What If Canada Had Wind and Not Oilsands?
  • 1 day When will oil demand start declining due to EVs?
  • 1 day Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 4 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 3 hours The Permian Mystery
  • 8 hours China & India in talks to form anti-OPEC
  • 22 hours Gazprom Exports to EU Hit Record
  • 2 days Epic Fail as Solar Crashes and Wind Refuses to Blow
Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

As the Permian becomes overcrowded,…

Rig Count Falters Amid Oil Price Correction

Rig Count Falters Amid Oil Price Correction

The rig count slipped on…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Aramco Plans To Sell Oil To Europe Via Egyptian Pipeline

Pipeline

Saudi Aramco could begin selling more oil to its European customers via a pipeline that runs through Egypt, according to an official statement from the state-run giant.

As a result, the Sidi Kerir pipeline terminal could become a key industry hub, Ibrahim Al-Buainain, CEO of Aramco’s trading wing, said on Monday following a meeting with Egyptian oil minister Tarek al-Molla.

The SUMED pipeline in question is run by the Egyptian General Petroleum Corporation (EGPC), which owns 50 percent of the facility’s assets. The rest is owned by Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.

Saudi Arabia, Bahrain, the United Arab Emirates, and Egypt have broken all diplomatic and commercial ties with Qatar, accusing it of financing regional terrorism and of having close ties to the Arab states' bitter rival, Iran. The Arab coalition demands that Doha cut its ties with Iran, end its financial support for Islamic extremist groups, and shut down the Qatar-based broadcaster Al-Jazeera. It is unclear if tensions between Qatar and its fellow Arab states will affect Aramco’s new plans to run oil through Egypt.

"We want clarity in the Qatari position, we want seriousness in finding a solution...[and] implementation of principles all countries support: No supporting terrorism, no welcoming unwanted guests, no spreading hate, no intervention in others' affairs," Saudi Foreign Minister Adel al-Jubeir explained this week. “Qatar knows what it has to do in order to end the crisis.”

Related: Is It Time For OPEC To Turn The Taps Back On?

U.S. President Donald Trump met with the Kuwaiti emir on September 7th and praised his mediation efforts. He said the United States would be willing to act as a mediator in the gulf dispute as well.

Saudi Arabia also recently said it was breaking off any talks with Qatar, accusing the country of misreporting the content of a phone call between Qatari Emir Tamim bin Hamad and Saudi Crown Prince Muhammad bin Salman.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News