Egypt pays Dana Gas USD 111 mn in arrears in 9M2018

Egypt paid Dana Gas USD 111 mn in arrears owed in 9M2018, the company said in its earnings release on Wednesday (pdf). The story comes as Egypt has been stepping up payments to international oil companies (IOCs), with arrears to oil producers have fallen to their lowest levels yet, coming in at USD 1.2 bn at the end of FY2017-18. The company noted that its production output in Egypt fell to 34,500 boepd in 9M2018, from 39,600 boepd in 9M2017.