Egypt completes overdue energy payments

Egyptian Minister of Petroleum and Mineral Resources, Karim Badee, announced that his country has fully settled the outstanding dues to oil and gas companies, which were estimated at $6.1 billion up to June 2024. He confirmed that complete payment has restored confidence in the investment climate within the sector and contributed to facilitating exploration, drilling, and field development activities, thereby enhancing sector stability and supporting the implementation of new production projects.

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