Debts to foreign oil companies up to USD3.2 billion
Egypt's outstanding arrears to foreign oil companies rose to USD3.2 billion at end of March from USD3 billion at end of December, an official at the Ministry of Petroleum told Reuters on Wednesday. The Ministry said last September that Egypt aimed to reduce the arrears owed to foreign oil companies to USD2.5 billion by end of 2015 and to pay them off completely by end of 2016. (Reuters)
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