Gov’t to prioritize payments to Shell, BP, and Eni

Shell, BP, and Eni will be at the head of the queue for payments owed by the government, a source told Al Mal. CBE Governor Tarek Amer had said he is coordinating with EGPC on USD 1.5 bn payment in arrears owed to international oil companies this year in his interview with DMC’s Osama Kamal on Friday. The source added to Al Mal that the three IOCs at the head of the queue account for more than 60% of the total amounts owed by EGPC. The USD 1.5 bn will be made available to EGPC in instalments and will be contingent on stability in the exchange rate and there not being any “crises,” the story claims.