Egypt calls Iraq to secure 8 million oil barrels for monthly refining

Cairo (IraqiNews.com) The Government of Egypt demanded the Iraqi Government to store (8) million of crude oil barrels in Egypt within the agreement concluded between Iraq and Egypt.

A source at the Egyptian Ministry of Oil stated that “The Somed company, which was founded by many Arab countries to transport the oil from Arab Gulf area to Suez gulf, demanded the delegation of the Iraqi Ministry of Oil, which currently visits Cairo, to equip Egypt with (8) million of crude oil to be exported by the oil pipeline of Somed company.”

“The company will be hired to store the crude oil near the Mediterranean Sea to reduce the cost of oil transportation,” the source added.” The storage capacity of Somed Co. is big so it can accommodate about (40) millions of crude Oil,” the source pointed out.An Iraqi delegation of the Ministry of Oil is currently visiting Somed Co. within the framework of the negotiations related to import four million of Iraqi crude oil per month from Iraq.