CAIRO: President Abdel Fatah al-Sisi is scheduled to discuss the continuation of Saudi petroleum aid to Egypt during his visit to Saudi Arabia scheduled for next Sunday, an official source inside the Petroleum Ministry told Youm7 Friday.
Sisi is scheduled to negotiate with the Saudi side on the possibilities of offering Egypt new packages of petroleum aid, especially in light of the energy crisis that has plagued the country, prompting Egyptian authorities to reduce the consumption of electricity, he said.
All Arab countries understand Egypt’s economic situation and are seeking to assist it in meeting the energy needs of Egyptian people, added the source.
Egypt imports $1.3 billion worth of petroleum products a month. The monthly requirement of diesel fuel in Egypt is about 450 thousand tons, 300 thousand tons of butane and 500 tons of gasoline, the source clarified.
Egypt has been receiving $3 million worth of petroleum products on a monthly basis since April and that the aid is expected to last until August, Youm7 reported. The total value of petroleum aid offered by Gulf countries to Egypt during the first six months of this year exceeded $3.2 billion, an official source from the General Petroleum Authority told Al-Mal in June.
The head of the General Petroleum Authority told Al-Mal in June that the total amount of petroleum aid Egypt received from Gulf countries since July 2013 reached $6 billion.
President Abdel Fatah al-Sisi will visit Saudi Arabia for one day to meet with Saudi King Abdullah Bin Abdel-Aziz and Crown Prince Salman Bin Abdel-Aziz Sunday, Egyptian Ambassador to Saudi Arabia Afifi Abdul Wahab said in a statement Thursday evening.
King Abdullah bin Abdul Aziz met with Sisi on July 20 on his plane at Cairo International Airport on his way from Morocco to Saudi Arabia, according to Egyptian State TV.
It was the first meeting between both parties since Sisi was inaugurated as Egypt’s President on June 8
Saudi Arabia had provided Egypt with financial aid and with oil following the ousting of former Islamist President Mohamed Morsi‘s regime on July 3, 2013 by the army after mass protests called for the end of this regime on June 30, 2013.