Petroleum Africa
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Tuesday, October 7, 2014
The Egyptian government is making good on its vow to make a bigger effort to repay its outstanding debts. BG Group, who is owed a considerable amount by the government, received a payment of $350 million.
The payment brings BG’s domestic receivables balance in Egypt to around $1.2 billion.
The payment is the result of the government of Egypt raising funds specifically to help repay debts to the oil and gas sector.
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