Egypt Zeroes out IOC Arrears
Today, June 10, Egypt fully settled its arrears to foreign oil and gas partners, a milestone aimed at restoring investor confidence, stimulating new investment, and accelerating exploration and research activity, ...
arrears | Egypt Oil & Gas
Egypt Further Cuts Partners’ Arrears to $440Mn
Egypt has reduced arrears to foreign partners to $440 million from $6.1 billion in June 2024, with the remaining dues set to be fully settled by the end of next month, said Karim Badawi, Minister of Petroleum and ...
Badawi at AmCham: Egypt Clears Energy Debt, Unlocks Investment
The Ministry of Petroleum and Mineral Resources (MoPMR) has successfully reduced investment partner arrears from $6.1 billion in June 2024 to approximately $1.3 billion, with a target to fully settle all outstandi ...
Madbouly Reviews Efforts to Boost Petroleum Stockpiles, Pay Arrears to International Oil Partners
Egypt’s Prime Minister Mostafa Madbouly held a meeting with the Governor of the Central Bank of Egypt (CBE), Hassan Abdalla, and Minister of Petroleum and Mineral Resources Karim Badawi, to review the ongoing effo ...
EGPC Board, Badawi Discuss Boosting Oil, Gas Investments
The Board Directors of the Egyptian General Petroleum Corporation (EGPC) convened under the Chairmanship of the Minister of Petroleum and Mineral Resources, Karim Badawi. The meeting focused on increasing investme ...
Madbouly: Stimulus Measures to Save Egypt $1.5 Billion in Energy Costs
Prime Minister Mostafa Madbouly held the weekly press conference, following the Cabinet meeting, on January 8th, 2025. During the press conference, Madbouly talked about the energy file and energy security in the ...
Prime Minister Madbouly Reports Progress on Settling Foreign Company Arrears
In a recent press conference, Prime Minister Mostafa Madbouly stated that between 20% to 25% of the value of arrears due to foreign companies have already been paid, depending on each company’s arrears.
Madbouly: MoPMR to Settle 20%-25% Arrears in a Week
Prime Minister Mostafa Madbouly instructed Minister of Petroleum and Mineral Resources Tarek El Molla and Minister of Finance Mohamed Maait to begin paying 20% to 25% of the Ministry of Petroleum and Mineral Resou ...
MoP Arears Decline to EGP 51B
During a recent meeting, Minister of Petroleum and Mineral Resources Tarek El Molla indicated that the financial arrears of the ministry declined to EGP 51 billion after it had reached EGP 334 billion in June 2018 ...
El Molla Highlights Egypt’s E&P Agreements in CERAWeek
Tarek El Molla, Minister of Petroleum and Mineral Resources, highlighted securing 12 exploration and production (E&P) agreements with working international oil companies (IOCs) in Egypt and newly-enrolled companie ...
