Egypt-Saudi Arabia Sign Oil Deal Worth $1.4B
Amid Threats And Turmoil, Egypt, Saudi Arabia Sign 3-Month Oil Deal Worth $1.4B
Egypt and Saudi Arabia have signed a $1.4 billion deal for Aramco, the Saudi state oil company, to supply Egypt with oil for three months, beginning in September, Egyptian Oil Minister Sherif Ismail said Thursday. The deal further cements the increasingly close relationship between Egypt and Saudi Arabia, both Sunni Arab states that have felt threatened by regional instability triggered by the rise of the Islamic State group and the recent international nuclear deal with Iran.Details
