(MENAFN) Egypt's oil minister, Osama Kamal, announced that beginning April, his country will start buying 900,000 barrels of oil from neighboring Libya, reported Gulf Daily News.
Kamal said that the government has also started paying some of the money its owes to international energy companies, with USD1 billion being recently paid, and another USD1 billion to be paid in two weeks.
The minister noted that the government is working on an economic program that will see a reduction in subsidies of fuel.
It is worth noting that in order to support the Egyptian economy, Libya plans to refine some of its crude oil via Egypt's refineries, according to Libya's oil minister, Abdul-Bari Al Aroussi.
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