Cairo tries to calm riled Riyadh
A delayed and much-needed $23bn oil-products package from Saudi Arabia to Cairo is part of a complex political narrative with few signs of an easy fix
Egypt's growing political independence is propelling a fundamental shift in its historical energy alliance with regional hegemon Saudi Arabia, and the change brings the potential to scar. A growing list of political irritants for Saudi Arabia is likely the reason the kingdom halted a $23bn oil-products package last October, just a few months after it agreed the five-year supply deal in April. Riyadh was rankled by Egypt's reluctance to back the Saudi-led coalition against multiple groups opposing the Yemeni government since 2015, notably the Houthis, a Zaidi Shia group from northern Yemen. But relations were particularly soured in October following Egypt's support of a Russian UN draft resol
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
