The UAE, one of the five largest oil-bearing countries in the world and producing 3-4 million barrels of oil per day, in October 2020 agreed to establish oil cooperation with Israel through the signing of a peace agreement between the two states mediated by the United States.Israel's state-owned pipeline company Europe Asia Pipeline Co (EAPC) announced the signing of a memorandum of understanding on oil cooperation with UAE-based MED-RED Land Bri...

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