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SUMED

SUMED

Industry: 
Energy
Country: 
Egypt
Sources: 

"Egypt will not stop transporting Iranian oil through the Suez Canal and internal pipelines despite the EU embargo on oil exports, Egypt's Al Ahram newspaper reported on Sunday quoting a source . . . 'Iranian oil, like any other oil, is transported in terms of contracts which are updated every year. We have not received any notifications to ban oil shipments from Iran,' the source in Egyptian energy sector told the paper. Iranian oil is transported through pipelines owned by Egyptian SUMED firm, the paper says. 'The embargo only affects the EU states, we do not have anything to do with it,' the source added."(RIA Novosti, "Egypt to Continue Iranian Oil Transit Despite EU Embargo," 7/15/12)

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