The Egyptian Minister of Petroleum and Mineral Resources announced Karim Badawi In a statement today, Saturday, that Egypt Reduced the accumulated indebtedness owed to investment partners in my sector Oil and gas to about $714 million by the end of April 2026 from $6.1 billion in June 2024.
He added that this comes “in preparation for settling it completely and bringing it to zero dues by the end of next month.”
Petromin gas station in Cairo (Reuters)
The minister continued, saying: “Regular monthly payment, in parallel with a reduction Indebtedness The accumulated amount, in addition to the package of incentive measures that have been implemented, contributes to enhancing partners’ confidence and encouraging them to increase their investments in research, exploration and production development activities, in a way that supports local production and reduces the import bill.”
