Egypt Pays $5 Billion in Arrears to Foreign Oil and Gas Companies
Cairo announces it has reduced its debts to international oil partners. The Egyptian government aims to bring its arrears down to $1.2 billion by June 2026.
| Countries | Égypte |
|---|---|
| Companies | Kpler |
| Sector | Gaz |
| Theme | Marchés & Finance |
The Egyptian government announced a payment of approximately $5 billion to its foreign partners in the oil and gas sectors. This partial settlement comes as arrears owed to international companies reached $6.1 billion as of June 30, 2024, according to Egyptian authorities. Prime Minister Mostafa Madbouly indicated that Cairo now aims to reduce the level of outstanding payments to approximately $1.2 billion by June 30, 2026.
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