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Azerbaijani state-owned oil firm SOCAR is set to supply two Egyptian refineries with two million barrels of Azeri Light oil, a source in the Azerbaijani firm announced Monday.
This comes as pursuant to the MoU signed last week between The Egyptian General Petroleum Corporation (EGPC) and SOCAR.
Hereby the MoU, both sides agreed on cooperating in LNG, infrastructure, petrochemicals industry and swapping agreements of crude oil and petroleum products.
This step follows the announcement of Saudi Aramco that it would halt petroleum products shipments to Egypt “until further notice”.
On other side, the total volume of Azerbaijani SOCAR exports of oil to more than 30 states in Europe, Asia, and Americas is estimated at 22.1 million tonnes in 2015.
