Egypt denied on Tuesday comments attributed to Iranian Oil Minister Rostam Qasemi that it was in talks to buy Iranian crude oil.

The Iranian Students' News Agency (ISNA) reported the comments on Monday.

"All that has been published on negotiations being held for Egypt to buy Iranian oil is completely devoid of truth," Egyptian Oil Minister Osama Kamal told Reuters.

"I can confirm that the Egyptian Petroleum Ministry has not entered into this type of negotiation before, and all that has been said on the matter is totally untrue," he added.

Iran has been looking for new buyers for its oil as western sanctions over its disputed nuclear programme squeeze sales to long-time customers.

Iranian officials have said on several occasions over the last few months they are in talks to sell oil to new customers, but rarely name them and there is little evidence of significant volumes of oil being shipped to new customers.

The European Union imposed a total ban on purchases of Iranian crude from July, making it difficult for Tehran to sell all its oil, the lifeblood of its economy.

Iranian Oil Minister Rostam Ghassemi announced few days ago that Iran is involved in oil negotiations with Egypt but he gave no further details.

Source: ahramonline  & nAgencies