Egypt clears overdue payments to foreign energy firms
Egypt highlighted its success in settling its dues to foreign oil companies, having paid approximately $6.1 billion. This move boosts investor confidence and helps restore natural gas production, which had previously declined to 4.1 billion cubic feet per day. The government expects natural gas production to rise to 6.6 billion cubic feet per day by 2027, as part of its efforts to increase domestic output and meet the rising demand for energy.
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