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Kuwait delivers ‘free’ crude and diesel to Egypt

Industry

Kuwait has announced that it has delivered crude and diesel worth US$200mn to Egypt as part of a US$4bn aid package to the North African country

Two tankers, one carrying around 283,168 cubic metres of diesel and the other 1.1mn barrels of crude, have reached Egypt, Kuwait’s Oil Ministry said.

The GCC state had recently said that it would provide urgent aid of US$4bn to Egypt — half deposited in the Egyptian Central Bank, a US$1bn grant and the remaining consisting of free oil and oil products.

Saudi Arabia and the UAE have also pledged US$5bn and US$3bn respectively, bringing the total amount promised by GCC nations to US$12bn.

Meanwhile, Doha had last month agreed to donate five LNG tankers to help Cairo.

 

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