Egypt Struggling to Pay for Energy Imports, CBE Governor Denies

• Sunday, 27th December 2015
• by Egypt Oil & Gas

Egypt is having difficulty paying for energy imports priced in US dollars – cancelling orders and asking for extensions – as the country’s foreign currency reserves have fallen, Reuters reports. Tourism, a key source ...

EGPC Denies Negotiations over Dollar Repayments

• Wednesday, 9th December 2015
• by Egypt Oil & Gas

The Egyptian General Petroleum Corporation (EGPC) issues a press release denying any claim that it intends to delay the dollar payments it owed. “The EGPC is on track and on time with its payment of dues to othe...

CBE Unable to Meet EGPC’s Dollar Needs

• Wednesday, 2nd December 2015
• by Egypt Oil & Gas

The Central Bank of Egypt (CBE) is unable to provide the Egyptian General Petroleum Corporation (EGPC) with its monthly requirement of $700m for the import of petroleum products, natural gas, as well as the payment of...

EGPC, Suez Canal, CBE Drowning in Dues

• Thursday, 9th July 2015
• by Egypt Oil & Gas

Tax arrears from the Egyptian General Petroleum Authority (EGPC), Suez Canal and the Central Bank of Egypt (CBE) have reached EGP 35bn, Tax Authority Head Abdel Moneim Matar said on Tuesday. He also noted that the amo...