Egypt plans to bring down its outstanding receivables to oil and gas producers to $1.2bn by end-June, Prime Minister Mostafa Madbouly announced on 21 January. This means that Egypt would have paid off nearly $5bn over the last two years, with receivables having peaked at $6.1bn in mid-2024.
The PM did not provide an up-to-date receivables number, but updates from IOCs indicate that they currently stand at around $2-2.5bn. (CONTINUED - 1425 WORDS)
