Egypt received oil shipments from an unspecified source

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Egypt announced receiving oil shipments from an unspecified source on Tuesday, according to Petroleum Ministry spokesperson Hamdy Abdelaziz. Before that Saudi Aramco suspended supplies to the North African country without any official explanation.

Abdelaziz claimed that this month’s delivery failure “does not mean that the entire import agreement with Aramco will be canceled, since the halt may be due to technical or logistical reasons, which are normal in all economic agreements.”

According to the terms of agreement between Saudi Aramco and Egypt’s officials, the oil exporter provides  700,00 of fuel each month at a cost of $23 billion for 15 years. On Friday local traders did not receive any petroleum products from Saudi Arabia and the next day the country’s officials issued a statement saying they had not get any letters from Saudi Aramco explaining the situation.

Oilprice.com supposes, citing its own sources that the halt might have occurred due to some technical reasons, but the agreement will still function normally.