Egypt is moving to secure alternative energy supplies by importing crude oil from Libya, as disruptions to Kuwaiti shipments intensify due to escalating regional tensions and constraints on maritime transit, according to Bloomberg.
According to the report, Egypt is set to import at least one million barrels of Libyan crude per month to compensate for halted flows from Kuwait, which have been affected by the effective closure of the strategic Strait of Hormuz.
The agreement follows a request by the Egyptian General Petroleum Corporation to Libya’s National Oil Corporation, according to sources familiar with the matter.
Under the proposed arrangement, Libya, an OPEC member, is expected to send two shipments per month totaling approximately 1.2 million barrels of crude oil to Egypt. The details have not yet been officially confirmed by either side.
The move comes as Egypt faces mounting pressure on its energy bill amid ongoing geopolitical tensions in the region. The crises, now in its fifth week, has disrupted oil flows and logistics across key gulf routes, forcing major producers to adjust output and export strategies.
Kuwait, a key supplier to Egypt, has declared force majeure on some oil deliveries, citing logistical challenges and reduced shipping activity through the Strait of Hormuz. This has effectively halted part of the crude supplies that Egyptian refineries rely on.
Egypt typically imports between one and two million barrels of crude monthly from Kuwait, alongside roughly one million barrels from Saudi energy giant Saudi Aramco.
The shift toward Libyan crude reflects Cairo’s broader strategy to diversify supply sources and maintain refinery operations amid uncertain global conditions.
Egypt consumes around 12 million tons of diesel and 6.7 million tons of gasoline annually, while also remaining a net importer of natural gas. Rising energy costs have prompted authorities to introduce conservation measures, including reduced operating hours for shops and cafés.
Follow the latest news on Google News
