EGYPT

 

Egypt Starts Payments

 

Egypt has started making payments promised to international oil companies  (IOCs) that are owed billions in outstanding receivables.

Prime Minister Hazim al-Biblawi announced on 4 December that the government will release $1.5bn to IOCs, in a bid to spur much needed investment into the county’s energy sector. Companies have mostly remained tight lipped about whether any of this cash has reached them, but one gas producer this week...