• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Middle East on brink: Oil tankers attacked off Oman
  • 8 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 6 mins Iran downs US drone. No military response . . Just Destroy their Economy Completely. Can Senator Kerry be tried for aiding enemy ?
  • 6 mins Emissions Need To Be Halved To Avoid 3C Warming
  • 2 hours The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 43 mins Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 25 mins Coal Boom in Asia is Real and a Long Trend
  • 6 hours Summit in Pyongyang: China's Xi Says World Hopes North Korea-U.S. Talks Can Succeed
  • 7 hours Pioneer CEO Said U.S. Oil Production would be up to 15 mm bbls/day NOW if we had the pipelines. Permian pipelines STARTING Q3
  • 16 hours Solar Panels at 26 cents per watt
  • 2 hours Huge UK Gas Discovery
  • 21 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 21 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 21 hours US to become net oil exporter in November: EIA
  • 18 hours US Shale Drilling lacks regulatory body.
  • 20 hours Ireland To Ban New Petrol And Diesel Vehicles From 2030
Why The Oklahoma Shale Boom Isn’t Taking Off

Why The Oklahoma Shale Boom Isn’t Taking Off

Major geological challenges and relatively…

Oil Prices Jump On Hopes Of End To U.S.-China Trade War

Oil Prices Jump On Hopes Of End To U.S.-China Trade War

Oil prices erased earlier losses…

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