Egypt Pays Down Arrears

Wednesday, July 6, 2016

Egypt has been able to reduce the balance that is owed to foreign operators in the country. The arrears now total $3.4 billion.

Petroleum Minister Tarek El Molla told Reuters that Egypt received crude oil and natural gas from the foreign partners’ share during 2015/16 worth $5.4 billion. Egypt paid them $5.5 billion.

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