{"id":668482,"date":"2025-07-16T00:00:00","date_gmt":"2025-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/16\/govt-makes-good-on-another-usd-1-bn-in-arrears-owed-to-oil-majors\/"},"modified":"2025-07-16T00:00:00","modified_gmt":"2025-07-16T00:00:00","slug":"govt-makes-good-on-another-usd-1-bn-in-arrears-owed-to-oil-majors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/16\/govt-makes-good-on-another-usd-1-bn-in-arrears-owed-to-oil-majors\/","title":{"rendered":"Gov\u2019t makes good on another USD 1 bn in arrears owed to oil majors"},"content":{"rendered":"

The government<\/strong> paid out USD 1 bn in arrears owed to international oil companies during <\/strong>the first week of July<\/strong>, Asharq Business<\/a> reports, citing an unnamed government source with knowledge of the matter. This month\u2019s disbursements mean that Egypt has paid out a total of USD 8.5 bn in arrears to IOCs in the last 12 months, after a similar payment in January<\/a> and several other payments in 2024<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

We still have some ways to go \u2014 but the end is in sight:<\/strong> Egypt\u2019s total outstanding arrears now stand at around USD 2.5 bn, which the government plans to clear out in September, according to the government source.<\/p>\n

REMEMBER-<\/strong> Following a costly few months<\/a> of energy imports to bridge the gap between local production and demand, the Oil Ministry has been working to start increasing local energy production in 2025. We reported in February<\/a> that the government is planning to clear all arrears owed to IOCs by the end of 2025, beginning with a USD 1 bn disbursement, following earlier payouts and new incentives<\/a> aimed at boosting investment and domestic output. <\/p>\n

The big picture: <\/strong>The move comes as Egypt tries to position itself as a reliable partner in the Eastern Med energy market amid a mounting supply-demand imbalance. Current production stands at 4 bcf\/d \u2014 nearly 40% below the 7 bcf\/d needed to meet the country\u2019s surging summer demand. The supply crunch has pushed LNG exports for most of 2025 to prioritize domestic needs.<\/p>\n","protected":false},"excerpt":{"rendered":"

The last round of payments brings our total outstanding arrears to USD 2.5 bn<\/p>\n","protected":false},"author":1,"featured_media":668483,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7207],"tags":[7106,93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-668482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-debt","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"b410ab4f-25f9-460f-9006-0b3d64aa53c1","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/877.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian gov\u2019t makes good on another USD 1 bn in arrears owed to oil majors","related_issue":[668474],"teaser":"The last round of payments brings our total outstanding arrears to USD 2.5 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.1b1c41ab-6005-4e6c-8cca-dd1f97a297d7.mp3"},"yoast_head":"\nGov\u2019t makes good on another USD 1 bn in arrears owed to oil majors - 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The payments have brought arrears owed to the company to their \u201clowest since\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":633582,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/17\/govt-to-clear-usd-3-2-bn-worth-of-oil-and-gas-arrears-this-fy\/","url_meta":{"origin":668482,"position":3},"title":"Gov\u2019t to clear USD 3.2 bn worth of oil and gas arrears this FY","author":"enterpriseam admin","date":"17 July 2024","format":false,"excerpt":"The first installment \u2014 of around USD 1.2 bn \u2014 is scheduled for October","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1297.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621710,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/15\/egypt-pays-dana-gas-usd-111-mn-in-arrears-in-9m2018\/","url_meta":{"origin":668482,"position":4},"title":"Egypt pays Dana Gas USD 111 mn in arrears in 9M2018","author":"enterpriseam admin","date":"15 November 2018","format":false,"excerpt":"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\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":646285,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/11\/arrears-to-iocs-brought-down-to-usd-2-3-bn\/","url_meta":{"origin":668482,"position":5},"title":"Arrears to IOCs brought down to USD 2.3 bn","author":"enterpriseam admin","date":"11 June 2017","format":false,"excerpt":"Egypt has brought down arrears owed to IOCs to USD 2.3 bn, the Oil Ministry said, according to Reuters. The Ministry said it repaid USD 2.2 bn in the past three weeks. Egypt has pledged to eliminate all arrears owed to IOCs by the end of June 2019, Reuters notes.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/668482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=668482"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/668482\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/668474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/668483"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=668482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=668482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=668482"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=668482"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=668482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}