Egypt and Saudi Arabia have signed a memorandum of understanding (MoU) to strengthen cooperation in oil, natural gas , and petrochemicals and expand trade in petroleum products, according to a statement by Egypt’s Ministry of Petroleum and Mineral Resources (MoPMR) on October 11.
The MoU aims to expand cooperation and integration between the two countries’ petroleum and energy sectors by leveraging their respective capabilities and expertise, including cooperation in petrochemicals, exploring investment opportunities in joint projects and expanding exports.
It covers the trade, transport, storage and distribution of crude oil, petroleum products and natural gas, as well as the development of related infrastructure and logistics services.
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