•  For a country which has been a net oil importer since 2009, with net imports averaging 200,000 b/d for 2016-17 (MEES, 9 March), Egypt’s crude export volumes have been surprisingly robust.

•  Of the country’s 629,000 b/d of 2017 crude and condensate output, some 202,000 b/d was exported. Of this almost half (48.8%) went to Europe, with Germany, Spain, Italy, Greece and France taking the lion’s share of those volumes.

•  The top destination...