oil-barrels

Egypt says Arab states to extend oil aid until September

: Sunday, March 16 - 2014 @ 01:41

Egyptian finance minister, Hany Kadry Dimian has said Arab countries will extend aid to Egypt in the form of petroleum products until at least September, a move that will help avert an energy crunch expected in the summer when consumption soars, Reuters has reported. “Arab aid for petroleum products offered to Egypt will continue until next September or October,” Dimian, who took office last month in a surprise cabinet reshuffle, told the news service. Saudi Arabia, the UAE and Kuwait have rushed to provide aid to Egypt, including around $4bn worth of oil products sent between July and December, since the army deposed president Mohamed Mursi after mass protests.

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Sunday, March 16- 2014 @ 1:41 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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