Egypt signed an agreement Thursday with Saudi-owned Aramco for a three-month, $1.4 billion oil deal, Reuters reported.
Egyptian Oil Minister Sherif Ismail told Reuters the deal would begin in September and stipulate that Egypt pay Saudi Arabia back within a year.
Egypt will be receiving 500,000 tonnes of diesel fuel, 220,000 tonnes of heating oil and 150,000 tonnes of gasoline per month, Ismail said.
Financial assistance from Gulf states has helped Egypt with its economy, according to Reuters, and help Cairo with its energy crisis.
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