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Egypt’s oil debt reaches $3.5 billion in June

by ChemOrbis Editorial Team -
  • 07/07/2015 (11:30)
According to media reports, Egypt’s debt to foreign oil companies reached $3.5 billion at the end of June. The country has delayed payments to oil and gas companies due to the economic instability prevailing since 2011.

In March, the country’s Oil Ministry reported that they aim to fully pay their debts to foreign oil companies by the middle of 2016. For the nine months ending March 31, Egypt paid $9.369 billion to foreign energy firms.
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