Egypt's arrears to foreign oil firms fall by end of June: Min.

BY

Reuters

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Thu, 11 Jul 2019 - 12:20 GMT

BY

Reuters

Thu, 11 Jul 2019 - 12:20 GMT

Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources, speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015 – Reuters Photo

Tarek El-Molla, Egypt's Minister of Petroleum and Mineral Resources, speaks during an interview with Reuters at his office in Cairo, Egypt, October 29, 2015 – Reuters Photo

CAIRO - 11 July 2019: Egypt’s arrears to foreign oil companies have declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon.

Tarek el-Molla also told Reuters that total monthly payments by Egypt to foreign oil companies stood at $700 million.

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