Foreign companies owed 200 million dollars

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Source: Davos – Alaa Al-Menshawi

Egyptian Minister of Petroleum Tareq Al-Mulla said, in exclusive statements to “Al-Arabiya.net”, today, Tuesday, that the dues of foreign oil companies have now reached 200 million dollars.

On the sidelines of the World Economic Forum, he added that the dues decreased from 900 million dollars last June, stressing that they do not currently represent any source of concern for the Egyptian government.

This represents a decrease of more than 77% in the late receivables of foreign oil companies operating in Egypt in only six months, compared to $ 1.2 billion in June 2018, and $ 2.4 billion at the end of June 2017. The government was seeking to pay its full obligations towards the oil companies Foreigners at the end of last year.

On the other hand, the minister said that Egypt currently imports 200 million cubic feet of gas per day from Israel.

On January 15, Egypt announced that it would start importing gas from Israel. This came almost two years after the signing of an agreement between the two countries to export gas to Egypt at a value of $ 15 billion for a period of 10 years.



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