{"id":650714,"date":"2017-03-30T03:55:15","date_gmt":"2017-03-30T03:55:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/"},"modified":"2017-03-30T03:55:15","modified_gmt":"2017-03-30T03:55:15","slug":"egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/","title":{"rendered":"Egypt to cut IOC receivables in half within weeks -El Molla"},"content":{"rendered":"

<\/a> Egypt will repay half of everything it owes international oil companies \u201cwithin weeks,\u201d <\/strong>Oil Minister Tarek El Molla said, according to Reuters<\/a>. Egypt\u2019s overdue arrears to IOCs are estimated to be USD 3.5 bn. A source told Al Shorouk<\/a> the payments will be made using the African Development Bank\u2019s and World Bank\u2019s second tranches of their loans to Egypt. El Molla also said the agreement to import about 1 mn barrels of crude from Iraq should be completed within a month. He also said Egypt will look into exporting natural gas from 2019<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt will repay half of everything it owes international oil companies \u201cwithin weeks,\u201d Oil Minister Tarek El Molla said, according to Reuters. Egypt\u2019s overdue arrears to IOCs are estimated to be USD 3.5 bn. A source told Al Shorouk the payments will be made using the African Development Bank\u2019s and World Bank\u2019s second tranches of […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650714","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ed588d3f-eb8f-4908-9535-abfb63b4bbde","order":"0","is_powered_by":true,"section_story_id":"e0278b1f-060b-4415-941b-e5f1ae34aa46","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650703],"teaser":"","voice_url":""},"yoast_head":"\nEgypt to cut IOC receivables in half within weeks -El Molla - 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\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to cut IOC receivables in half within weeks -El Molla\" \/>\n<meta property=\"og:description\" content=\"Egypt will repay half of everything it owes international oil companies \u201cwithin weeks,\u201d Oil Minister Tarek El Molla said, according to Reuters. Egypt\u2019s overdue arrears to IOCs are estimated to be USD 3.5 bn. A source told Al Shorouk the payments will be made using the African Development Bank\u2019s and World Bank\u2019s second tranches of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-30T03:55:15+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\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to cut IOC receivables in half within weeks -El Molla\",\"datePublished\":\"2017-03-30T03:55:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\"},\"wordCount\":104,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/30\/egypt-to-cut-ioc-receivables-in-half-within-weeks-el-molla\/\",\"name\":\"Egypt to cut IOC receivables in half within weeks -El Molla - 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The ministry plans to close this 35%\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\/2021\/10\/267.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647530,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/14\/emras-gold-exploration-tender-results-within-a-week-minister-tarek-el-molla\/","url_meta":{"origin":650714,"position":1},"title":"EMRA\u2019s gold exploration tender results within a week -Minister Tarek El Molla","author":"enterpriseam admin","date":"14 May 2017","format":false,"excerpt":"Tarek El Molla on gold exploration, de-regulation of the natural gas industry and the coming swing in priorities toward oil: Petroleum and Mineral Resources Minister Tarek El Molla spoke at an AmCham luncheon we attended on Thursday. We learned that the gold exploration tender results will be out within a\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":636020,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/19\/egypt-to-allow-foreign-companies-to-export-gas-in-five-years\/","url_meta":{"origin":650714,"position":2},"title":"Egypt to allow foreign companies to export gas in five years","author":"enterpriseam admin","date":"19 December 2017","format":false,"excerpt":"Egypt will allow foreign companies to \u201cfreely\u201d export natural gas not needed for domestic use in five years, Oil Minister Tarek El Molla announced on Monday during Al Ahram\u2019s energy conference, according to Reuters. New exploration contracts contains a clause that allows companies to export a part of their share\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":630602,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/26\/uaes-mubadala-prepares-for-egypt-oil-gas-debut\/","url_meta":{"origin":650714,"position":3},"title":"UAE\u2019s Mubadala prepares for Egypt oil & gas debut","author":"enterpriseam admin","date":"26 April 2018","format":false,"excerpt":"UAE\u2019s Mubadala looking to acquire 10% Zohr stake next month as it prepares to enter Egyptian market: The Abu Dhabi-based Mubadala Petroleum is expected to sign next month the final contracts for its acquisition of a 10% stake in the Zohr gas field from Italy\u2019s Eni, Oil Minister Tarek El\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":635674,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/11\/gas-from-zohr-to-be-tested-within-days-el-molla\/","url_meta":{"origin":650714,"position":4},"title":"Gas from Zohr to be tested within days -El Molla","author":"enterpriseam admin","date":"11 December 2017","format":false,"excerpt":"Also set to help on the balance of payments front: The Oil Ministry will begin test production from the Zohr natural gas field \u201cin the coming few days,\u201d according to a ministry statement carried by Bloomberg. \u201cAuthorities are pumping gas from the national distribution system to test pipelines in preparation\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":600458,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/30\/gas-reserves-will-bring-prosperity-and-more-chances-for-peace-says-el-molla\/","url_meta":{"origin":650714,"position":5},"title":"Gas reserves will bring prosperity and more chances for peace, says El-Molla","author":"enterpriseam admin","date":"30 January 2019","format":false,"excerpt":"Egypt\u2019s role as regional energy hub gets a spotlight on CNBC: Opportunities for employment, business and even maintaining peace will all grow as a result of gas reserves in the Middle East, Oil Minister Tarek El-Molla told CNBC in an interview on Monday. 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