Kuwait has plans to raise its crude oil exports to Egypt to up to 100,000 bpd from the current 65,000 bpd
The OPEC member is also ready to supply the North African country with refined fuel if need arises, a Kuwaiti oil official said.
Saudi Arabia, Kuwait and the UAE have together provided Egypt with grants, loans and petroleum products since last year after the overthrowing of the then president Mohammed Mursi.
Nasser al-Mudhaf, MD for international marketing at state-owned Kuwait Petroleum Corporation (KPC), said that Kuwait has been studying Egypt’s need for petroleum products, said.
“We are ready to provide it with diesel,” Reuters reported him as saying.
Kuwait has reportedly shipped around two million barrels of crude oil a month in early October to Egypt.
Egypt, meanwhile, added that it would buy 65 per cent of its oil product imports for the next year from the UAE.
