UAE’s Dana Gas says it has received $60m from Egyptian government

UAE’s Dana Gas says it has received $60m from Egyptian government

Egypt’s government has paid Dana Gas US$60 million, part of overdue receivables totalling $212m, the Abu Dhabi-listed firm said in a statement on Sunday.

Egypt has delayed payments to oil and gas firms as its economy has been hammered by almost four years of instability since a popular uprising ousted former president Hosni Mubarak.

The Cairo government said in November it intended to repay all its energy-related debt within six months.

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