When BG announced late last month that its receivables had risen by $200mn in the first quarter it looked like it was an exception to the trend. Other Q1 filings show this wasn’t the case.
With almost all first quarter results now in, it is now clear that, despite repeated pronouncements from state oil firm Egyptian General Petroleum Corporation, receivables for international oil and gas firms active in Egypt rose in the first quarter. This in part reverses cuts to dues made late last year. (CONTINUED - 496 WORDS)