{"id":596965,"date":"2019-07-14T04:15:39","date_gmt":"2019-07-14T04:15:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/"},"modified":"2019-07-14T04:15:39","modified_gmt":"2019-07-14T04:15:39","slug":"arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/","title":{"rendered":"Arrears owed by Egypt to IOCs fall to USD 900 mn"},"content":{"rendered":"

Arrears to IOCs fall to USD 900 mn, on track to be cleared by the end of the year:<\/b> Arrears owed by Egypt to international oil companies have fallen to USD 900 mn as of the end of June, down from USD 1.2 bn a year ago, Oil Minister Tarek El Molla told Reuters on Thursday<\/a>. He added that total monthly payments to foreign oil companies stood at USD 700 mn. At this rate, Egypt could be well on its way to meeting its target of clearing arrears owed since 2011 by the end of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Arrears to IOCs fall to USD 900 mn, on track to be cleared by the end of the year: Arrears owed by Egypt to international oil companies have fallen to USD 900 mn as of the end of June, down from USD 1.2 bn a year ago, Oil Minister Tarek El Molla told Reuters on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[93,72,371,2380,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596965","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-oil-ministry","tag-speed-round","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"73173875-e393-47a2-9761-b3ee82ac66a6","is_powered_by":true,"section_story_id":"7c9d550d-f2b3-4ae8-b405-9c2cec1f0f73","story_type":"1","photo_url":"","photo_position":"above","related_issue":[596948],"teaser":"","voice_url":""},"yoast_head":"\nArrears owed by Egypt to IOCs fall to USD 900 mn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arrears owed by Egypt to IOCs fall to USD 900 mn\" \/>\n<meta property=\"og:description\" content=\"Arrears to IOCs fall to USD 900 mn, on track to be cleared by the end of the year: Arrears owed by Egypt to international oil companies have fallen to USD 900 mn as of the end of June, down from USD 1.2 bn a year ago, Oil Minister Tarek El Molla told Reuters on […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-14T04:15:39+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Arrears owed by Egypt to IOCs fall to USD 900 mn\",\"datePublished\":\"2019-07-14T04:15:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\"},\"wordCount\":102,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"energy\",\"EnterpriseAM\",\"Oil Ministry\",\"SPEED ROUND\",\"Tarek El Molla\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/arrears-owed-by-egypt-to-iocs-fall-to-usd-900-mn\/\",\"name\":\"Arrears owed by Egypt to IOCs fall to USD 900 mn - 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Egypt\u2019s arrears bill ballooned to USD 6.3 bn\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652495,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/11\/word-bank-aid-will-be-used-in-part-to-pay-off-arrears-to-iocs\/","url_meta":{"origin":596965,"position":1},"title":"Word Bank aid will be used in part to pay off arrears to IOCs","author":"enterpriseam admin","date":"11 January 2017","format":false,"excerpt":"The government will pay arrears to international oil companies in part through the second tranche of the USD 3 bn World Bank development loan, an Oil Ministry official tells Al Shorouk. Arrears owed currently stand at USD 3.5 bn as December, Oil Minister Tarek El Molla had previously stated. This\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":653072,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/29\/nasr-discusses-borrowing-usd-400-mn-from-world-bank\/","url_meta":{"origin":596965,"position":2},"title":"Nasr discusses borrowing USD 400 mn from World Bank","author":"enterpriseam admin","date":"29 January 2017","format":false,"excerpt":"Egypt asks World Bank for USD 400 mn in funding? International Cooperation Minister Sahar Nasr discussed with Asad Alam, the World Bank\u2019s regional director for Egypt, a request for USD 200 mn to support labor intensive projects and another USD 200 mn to support SMEs. The Ministry\u2019s statement did not\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646162,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/07\/central-bank-repays-another-usd-750-mn-in-arrears-to-iocs\/","url_meta":{"origin":596965,"position":3},"title":"Central Bank repays another USD 750 mn in arrears to IOCs","author":"enterpriseam admin","date":"7 June 2017","format":false,"excerpt":"Speaking of the CBE, it has paid another USD 750 mn in arrears owed to international oil companies in the past few days, Assistant Sub Governor Rami Abulnaga said, according to Al Masry Al Youm. That follows separate payments topping USD 750 mn made to IOCs last month.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642803,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/22\/central-bank-says-no-usd-amounts-outstanding-for-foreign-firms\/","url_meta":{"origin":596965,"position":4},"title":"Central Bank says no USD amounts outstanding for foreign firms","author":"enterpriseam admin","date":"22 August 2017","format":false,"excerpt":"Egypt has no outstanding debts to foreign companies, having paid USD 160 mn in arrears so far, central bank Governor Tarek Amer said on Monday, according to AMAY. He said that any creditors should notify the CBE immediately. As for arrears owed to international oil firms, Amer said that a\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648653,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/09\/government-to-pay-usd-500-mn-of-overdue-arrears-to-iocs-next-month-state-officials\/","url_meta":{"origin":596965,"position":5},"title":"Government to pay USD 500 mn of overdue arrears to IOCs next month -state officials","author":"enterpriseam admin","date":"9 April 2017","format":false,"excerpt":"The government plans on repaying USD 500 mn of the USD 3.5 bn it owes IOCs next month, top Petroleum Ministry officials tell Al Borsa. 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