Egypt pays USD 200 mn in arrears to international oil companies

Egypt paid USD 200 mn in arrears to international oil companies in December, bringing its total arrears down to USD 1 bn, Masrawy reported. It is unknown which companies received payment from the government. The ministry said last year that it expects to pay its arrears in full by the end of 2019. The government has been working over the past few years to pay down its arrears bill, which reached USD 6.3 bn following the 2011 revolution.