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Oil Firms

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They have steadily declined since 2014 as Egypt sought to become a regional energy hub.
July 13th, 2019 - 08:28 GMT

Egypt’s Arrears to Foreign Oil Companies Declined to $900 Million at the End of June

Egypt's arrears to foreign oil companies declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon. {"preview_thumbnail":"https://cdn.flowplayer.com/6684a05f-6468-4ecd-87d5-a748773282a3/i/v-i-8…","video_id":"88d6e78a-49bd-48c2-b802-61c47b8aaa57","player_id":"8ca46225-42a2-4245-9c20-7850ae937431","provider":"flowplayer","video":"Top 10 Countries for Expats"} "The foreign companies' arrears dropped at end of June to $900 million, down from $1.2 billion a year earlier," Petroleum Minister Tarek el-Molla told Reuters. "We will settle that soon, God willing," he added, without giving a specific date. Molla, who said total monthly payments by Egypt to foreign ...
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