arrears | Egypt Oil & Gas
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, Kari...
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 Mine...
Badawi at AmCham: Egypt Clears Energy Debt, Unlocks Investment
Egypt has succeeded in addressing the challenge of accumulated dues owed to investment partners in the oil and gas sector, a problem that had negatively impacted investment flows and led to a decline in oil and gas pr...
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 efforts ...
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 investments ...
Madbouly: Stimulus Measures to Save Egypt $1.5 Billion in Energy Costs
Prime Minister Mostafa Madbouly reassured Egyptians about the energy sector and the nation’s energy security in the coming period. “This is an extremely important issue,” Madbouly stated during a weekly press conferen...
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 noted...
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 Resources...
