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Ahmed Musa to settle foreign oil company dues tomorrow
The Egyptian Minister of Petroleum announced that the foreign companies' dues since 2021, which amounted to $6.1 billion, will reach zero tomorrow, in accordance with President Sisi's promise. This step is part of the government's efforts to settle the overdue payments with international partners. He also confirmed plans for new investments worth $17 billion over the next five years and the drilling of 101 exploratory oil and gas wells by 2026. These developments reflect international companies' confidence in Egypt's energy sector and underscore Egypt's move toward becoming a regional energy hub in the Eastern Mediterranean region.
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