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by Ali Nehme
Publicis Media Middle East


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Egyptian General Petroleum Corp seeks up to 178,000 tonnes gasoil

December 27, 2016 12:04 pm

A female employee poses with a fuel pump at a petrol station in Cairo, Egypt, February 24, 2016. REUTERS/Mohamed Abd El Ghany

Egyptian General Petroleum Corp (EGPC) is seeking up to 178,000 tonnes of gasoil for delivery in January, a tender document showed on Tuesday.

The state-owned company is seeking two cargoes of 30,000 to 33,000 tonnes each of 0.1 percent sulphur gasoil for delivery into Alexandria or El Dekheila ports over Jan. 11 to 13 and Jan. 22 to 24.

It is also seeking via a separate tender two cargoes of 34,000 to 36,000 tonnes each of 0.1 percent sulphur gasoil for delivery into Suez port over Jan. 11 to 13 and Jan. 24 to 26 and 35,000 to 40,000 tonnes of 0.5 percent sulphur gasoil for delivery into Ain Sukhna over Jan. 23 to 25.

Both tenders close on Dec. 29 and are valid until Jan. 3.

Egypt has been actively seeking oil products in the spot market following Saudi Arabia informing it last month that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely.

Gulf Arab countries, led by Saudi Arabia, have pumped billions of dollars into Egypt’s flagging economy since general-turned-president Abdel Fattah Al Sisi took over after a year of divisive rule by the Muslim Brotherhood.

But Riyadh has become frustrated with his lack of economic reforms and reluctance to be drawn into the conflict in Yemen, leaving Egypt to search for alternative sources of energy.

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Reuters
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