Of the key foreign producers of oil and gas in Egypt, a majority have now reported third quarter figures. These show receivables falling by an average of 5.3% in Q3.

Taking these numbers to be typical implies that overall receivables fell to $5.96bn, down $330mn on three months earlier (MEES, 14 August). However dues are up by $500mn on the end of 2014.

Egypt made a series of large payments late last year and at the time pledged to repay its debts to foreign oil and gas firms by the end of...