US EditionEgypt To Settle Oil, Gas Dues to Foreign Partners by Mid-2026
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3 Articles
Egypt will pay $1.3 billion in arrears to foreign oil companies
Egypt will repay $1.3 billion in arrears to international oil companies by June, the petroleum ministry announced Saturday. The country had amassed roughly $6.1 billion in unpaid bills to foreign energy firms by mid-2024 due to prolonged foreign currency shortages. These delays weighed heavily on investment and gas production, slowing drilling activity as companies grappled with inconsistent payments. Previously, the government expected around $…
Egypt To Settle Oil, Gas Dues to Foreign Partners by Mid-2026
Egypt announced an ambitious plan to fully settle outstanding payments owed to foreign partners in its oil and gas sector by the end of June 2026, a move officials say will restore investor confidence and help reverse years of declining production.
Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, announced that the settlement and repayment of all oil and gas production partner entitlements would be completed by the end of June of this year, in parallel with the continued full commitment to pay the monthly bill, in fulfilment of President Abdelfattah Ceci ' s mandate to expedite the settlement of the partner ' s entitlements, thus enhancing confidence and stimul…
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