Libya to Supply Oil on Credit to Egypt

Libya has agreed to supply Egypt with a million barrels of oil a month on credit, according to a report from the Financial Times.

The commitment comes as part of an aid package that includes a $2-billion deposit of cash into Cairo’s central bank, and the easing of visa restrictions for Egyptian labourers.

Nouri Abdullah Berruien [Nuri Balrwin, Nuri Berruien, Nouri Berouin], chairman of Libya's state-owned National Oil Corporation (NOC), is quoted as saying that the oil will be supplied on credit as a way to resolve Egypt’s economic crisis.

(Source: Financial Times)

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