Libya is set to stream 1 million barrels of oil a month to Egypt on credit for at least six weeks.

According to Dow Jones, Omar Shakmak, Libya’s deputy oil minister, this week said this move was aimed at giving Egypt a break from fuel shortfalls that have recently tormented the troubled north African country.

Shakmak also told Dow Jones the agreement would meet about 5 percent of Egypt’s oil requirements.

The agreement is based on standard commercial terms. The period of this credit line has yet to be concluded. But the US-based wire service reported that the period of this credit line could spread beyond the six weeks commonly practiced in the industry.

The rescue comes as Egypt has been stressed by fuel shortages since last year. The North African country has seen long lines at fuel stations.

Cairo recently assured Tripoli that it would surrender a top backer of former Libyan dictator Muammar Gadhafi to Tripoli.

Dow Jones reported that this prompted claims from Libyan activists that Libya is using its oil wealth to gain political leverage.

On-going turbulence in the Egypt since the removal of former president Hosni Mubarak has debilitated the country’s economy.

It has drained foreign-exchange reserves, diminishing tourism revenue and compelling the government to keep expensive price subsidies.

Egypt is trying to secure a $4.8 billion loan from the International Monetary Fund to resolve balance-of-payments problems and restore its image with international investors, according to Dow Jones.

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