Egypt Draws Up IOC Payment Timetable As Debts Mount
The Egyptian Government is in the process of drawing up a “timetable and new mechanisms” to reschedule arrears owed by Egypt to international oil companies (IOCs) operating in the country, Egyptian Minister of Petroleum Sharif Isma’il announced on 1 September.
The repayments schedule will be put together by a number of government departments in consultation with foreign companies in order...