A prominent government source has said that Kuwait will offer fuel and financial support estimated at US$4 billion.
The Kuwaiti petroleum department will offer Egypt 4.5 million barrels of oil over three months (50,000 barrels per day) from July to September. It will also offer 200,000 tons of diesel oil in six shipments during the same period.
The source told Al-Masry Al-Youm that the Egyptian government, represented by the petroleum authority, has informed Kuwait of its fuel needs and the latter has vowed to help Egypt.
Kuwait is one of three Gulf countries to have pledged aid to Egypt. Saudi Arabia earlier announced it was offering Egypt a US$5 billion aid package, including US$2 billion for gas and oil products, US$2 billion as deposit and US$1 million in cash. The Emirati government also pledged to provide a donation to Egypt and a US$2 billion deposit without interest at the Central Bank of Egypt.
The source added that the Egyptian petroleum authority sent official request to Kuwait demanding an increase in exported oil, from 1.5 million barrels per month to two million. The Kuwaiti side, however, stressed that it did not have a surplus in products at this time.
Direct investment expert Mahmoud abdel Rahman told Al-Masry Al-Youm that Arab aid to Egypt in the form of petrol is pivotal to avoid fuel shortages. “The government has received aid from three main Arab countries that will last for the next six months at least,” he added.
Edited translation from Al-Masry Al-Youm
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