Egypt to settle $750m dues to foreign oil firms in December

Cairo – Mubasher: Egypt is planning to pay off $750 million dues to global oil companies in December, petroleum minister said in a call broadcast to CBC’s Hona Al'asema.

Total dues to global oil companies retreated to $2.3 billion by mid-2017, El-Molla added.

In January 2017, the minister said that foreign oil companies dues from the Egyptian government fell to $3.5 billion at the end of December 2016 from $3.6 billion.

On 10 July, El-Molla noted that the plan of developing and upgrading the petroleum sector will be completed by the end of 2018 instead of 2021.

Mubasher Contribution Time: 15-Nov-2017 12:51 (GMT)
Mubasher Last Update Time: 15-Nov-2017 13:44 (GMT)

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