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Egypt says to pay arrears to oil firms "in days"
December 4, 2013 / 2:40 PM / 4 years ago

Egypt says to pay arrears to oil firms "in days"

CAIRO, Dec 4 (Reuters) - The Egyptian government plans to pay $1.5 billion in arrears to foreign oil companies “in days”, Oil Minister Sherif Ismail told Reuters on Wednesday, adding the money would be shared between all the firms operating in the country.

Prime Minister Hazem el-Beblawi earlier announced Egypt would pay the sum to foreign firms working in its oil and gas sector. The government has said it owes around $6 billion to such firms.

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