News Formal

Israeli pipeline company signs deal to bring UAE oil to Europe

  • 📰 Reuters
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Israeli pipeline company EAPC said on Tuesday it had signed a preliminary deal to help transport oil from the United Arab Emirates to Europe via a pipeline that connects the Red Sea city of Eilat and the Mediterranean port of Ashkelon.

FILE PHOTO: Eilat-Ashkelon Pipeline Co. oil storage containers are seen on the shore of the Mediterranean Sea in the southern city of Ashkelon, Israel January 27, 2015. REUTERS/Amir Cohen/File Photo

State-owned EAPC said it signed a binding memorandum of understanding with MED-RED Land Bridge, a company with Israeli and Emirati owners, in Abu Dhabi on Monday during a ceremony with visiting U.S. Treasury Secretary Steve Mnuchin. “MED-RED is in advanced negotiations with major players in the West and in the East for long-term service agreements,” EAPC said.

EAPC, or Europe Asia Pipeline Co, operates its eponymous pipeline and deals in oil storage and the export and import of distillates.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Israel, UAE agree deal to boost investment in each other's economiesIsrael and the United Arab Emirates (UAE) have reached a bilateral agreement that will give incentives and protection to investors who make investments in each other's countries, both finance ministries said on Sunday. good Well done Trump! Funny.
Source: Reuters - 🏆 2. / 97 Read more »