VOL. XL

No. 5

3-February-1997

EGYPT

Israel Reduces Liftings Of Egyptian Crude Oil

Israel will decrease its purchases of Egyptian crude oil thisyear to about 1.4mn tons from the 2mn tons/year agreed upon in the peace accord concludedbetween the two countries in 1979. This year Israel's Oil Refineries Ltd. (ORL) willimport about 1mn tons of Egyptian crude oil, instead of the 1.6mn tons lifted last year,and other Israeli fuel marketing companies will purchase 0.4mn tons. The reduction inORL's...