Arab Finance: The Iraqi government has renewed a contract that will allow the Egyptian General Petroleum Corporation (EGPC) to purchase 4 million barrels of Iraqi crude oil in June and August, the media office of Iraqi Prime Minister stated on March 20th.

EGPC will acquire two million barrels in June and another two million barrels in August.

In 2016, Cairo and Baghdad signed an agreement that enables Egypt to import one million barrels of Iraqi Basra crude every month and with payment facilities.

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