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Israeli Fuel Chief to Visit Egypt

Shimon Gilboa, head of the Israeli fuel administration, will go to Cairo this week to discuss the continued supply of Egyptian oil from Sinai to Israel. The talks are intended to sum up the situation to date and to explore methods whereby Israel can obtain oil through direct agreement with the Egyptian authorities rather than purchase from oil companies as has been the case up to now.

Gilboa said that the Egyptians have been supplying oil to Israel for the last nine months and have adhered strictly to the letter of their agreement. Israel receives 500,000 tons of creed oil every three months for which it pays between $27-534 per barret.