Iraq renews deal to provide Egypt with 4 mln barrels of crude oil

Iraq’s government accepted restoring a contract that will certainly allow the Egyptian General Petroleum Company (EGPC) to purchase 4 million barrels of Iraqi petroleum in June and August, the Iraq government said on Monday.

EGPC will certainly acquire 2 million barrels in June and one more 2 million barrels in August, the federal government claimed in a declaration.

Cairo and Baghdad authorized an arrangement in 2016 that enables Egypt to import one million barrels of Iraqi Basra crude on a monthly basis and also with payment facilities.

Coverage by Moayad Kenany, writing by Omar Abdel- Razek, editing and enhancing by Susan Fenton