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Egypt's foreign oil debts hit $3.2 billion

by ChemOrbis Editorial Team -
  • 07/04/2016 (14:09)
According to media reports, Egypt’s Ministry of Petroleum said that their debts to foreign oil companies rose to $3.2 billion at the end of March, up 6.6% from $3 billion at the end of December.

Previously, the Ministry reported that they are planning to discharge its debt payment to foreign oil companies in two stages and that they aim to fully pay their debts by the end of 2016. The payments to oil and gas companies have been delayed due to the economic instability ongoing since 2011.
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