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Wednesday, 21 February 2018

Egypt to make next arrears payment in March

Egypt to pay IOCs USD 250 mn next month after USD 300 mn payment last week: Also on the energy front, Egypt paid international oil companies USD 300 mn in arrears just last week, EGPC CEO Abed Ezz El Regal told Al Borsa on Tuesday. This would bring Egypt’s total arrears down to USD 2.1 bn. The government plans to make another USD 250 mn payment to IOCs in March, he added.

Yo, what about the little guy? Our understanding from industry players is that while the global majors are doing well on the collection front, smaller producers are seeing their receivables grow and age.

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