Egypt’s state oil firm EGPC is receiving a three-year $100mn loan from Saudi-based development bank Apicorp.

“EGPC now intends to use new Murabaha facility provided by Apicorp to fund the purchase of Liquid Petroleum Gas (LPG) from the Arab Maritime Petroleum Transport Company (AMPTC),” Apicorp says in a 5 October press release.

AMPTC, like Apicorp itself, is an arm of the Organization of Arab Petroleum Exporting Countries (OAPEC).

Saudi Arabia and fellow GCC monarchies...