letters of credit

Banque Misr Approves $181.5M Letter of Credit to EGPC

Banque Misr approved granting a letter of credit worth $181.5 million for the Egyptian General Petroleum Corporation (EGPC), an official at the bank stated.

Banks Issued $6.34b Letters of Credit to Petroleum Imports

The Central Bank of Egypt (CBE) stated that the banks operating in the country issued letters of credit worth $6.34b for oil and gas imports during the period from January 2016 to December 2016.

13 Fuel Vessels Held at Alexandria Port Awaiting Letters of Credit

Thirteen vessels loaded with fuel shipments have been held outside the Alexandria port for several days as the Egyptian General Petroleum Corporation (EGPC) has not delivered the cost of fuel.

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