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Monday, 1 July 2019

Egypt pays Dana Gas USD 38 mn in owed arrears

Egypt has paid Dana Gas USD 38 mn in overdue arrears in June, the company said yesterday. The Emirati company’s total revenues from its month’s operations in Egypt reached USD 48 mn as it has also made USD 10 mn from selling natural gas condensate. Dana Gas received a total of USD 78 mn in payments from the government during 1H2019, reducing its outstanding receivables to USD 125 mn, the lowest level since 2011. Egypt has pledged to fully repay amounts owed to international oil companies by the end of 2019.

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