Cairo Reportedly Pivots to Libyan Oil as Gulf Supplies Dry Up
21:34 29.03.2026 (Updated: 21:50 29.03.2026)
© AP Photo / Hussein Malla
Subscribe
Cairo Reportedly Pivots to Libyan Oil as Gulf Supplies Dry Up
To offset the total loss of Kuwaiti crude, Egypt has secured a deal to import 1.2 million barrels of oil monthly from Libya’s National Oil Corp., a US media outlet reported, citing people familiar with the matter.
The agreement addresses a critical energy gap caused by the effective closure of the Strait of Hormuz, now entering the fifth week of the conflict involving the US, Israel, and Iran.
Kuwait declared force majeure and halted its 2-million-barrel monthly supply to Egypt as shipping routes became impassable.
High fuel demand has left Egypt facing soaring energy costs and a precarious fuel balance. To manage shortages, Cairo is rationing natural gas and enforcing earlier business closing hours.
Subscribe to @sputnik_africa
Sputnik Africa | X
To offset the total loss of Kuwaiti crude, Egypt has secured a deal to import 1.2 million barrels of oil monthly from Libya’s National Oil Corp., a US media outlet reported, citing people familiar with the matter.
The agreement addresses a critical energy gap caused by the effective closure of the Strait of Hormuz, now entering the fifth week of the conflict involving the US, Israel, and Iran.
Kuwait declared force majeure and halted its 2-million-barrel monthly supply to Egypt as shipping routes became impassable.
High fuel demand has left Egypt facing soaring energy costs and a precarious fuel balance. To manage shortages, Cairo is rationing natural gas and enforcing earlier business closing hours.
Subscribe to @sputnik_africa
Sputnik Africa | X
