Egypt has opened an auction to import petroleum products during the third quarter of 2014, in a move that aims to meet the country's heavy demands for fuel during the summer, Reuters reported on Saturday.

Under the new tender, which was announced on Thursday and will remain open until the end of next week, Egypt seeks to import 90,000 tonnes of diesel in July and August, in addition to 120,000 tonnes of petrol and 500,000 tonnes of diesel in September, Reuters added, citing an anonymous source from the Egyptian General Petroleum Corporation (EGPC).

The official also revealed that the oil-rich state Saudi Arabia would grant Egypt in July and August around 240,000 tonnes of petrol and 850,000 tonnes of diesel.

The head of the EGPC told Reuters in May that Egypt would receive about $650 million to $700 million worth of petroleum aid per month in August, totalling more than $3 billion from April to August.

Egypt has been showered with financial aid from oil-rich Gulf nations sympathetic to its interim government following the ouster of Islamist president Mohamed Morsi in July of last year.

According to official statistics, Egypt produces around 680,000 crude oil barrels per day and forecasting 5.5 billion cubic feet of natural gas per day in fiscal year 2014/15.

Egypt also produces around 4.5 million tonnes of petrol per annum, while butante gas production stands at 1.8 million tonnes per year.

According to Reuters, Egypt’s monthly needs for diesel, butane and petrol currently stand at 450,000 tonnes, 300,000 tonnes and 500,000 tonnes respectively. 

The story has been corrected to clarify that the 5.5 billion cubic feet is expected production not the current