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Iraq Renews Contract To Supply Crude Oil To Egypt

OIL

Iraq's government approved renewing a contract that will allow the Egyptian General Petroleum Corporation (EGPC) to buy 4mn barrels of Iraqi crude oil in June and August, the Iraq government said.

  • EGPC will acquire 2mn barrels in June and another 2mn barrels in August, the government said.
  • Cairo and Baghdad signed an agreement in 2016 that enables Egypt to import 1mn barrels of Iraqi Basra crude every month and with payment facilities.

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