Dana Gas receives $60 mln Payment from Egypt

Emarati Dana Gas received $60 million from the Egyptian government, representing 28 percent of its entitlements, the company announced in a statement on Sunday.

Egypt recently paid $2.1 billion of delayed arrears to foreign oil firms, the Minister of Petroleum, Sherif Ismail, said last week.

The government plans to pay all arrears hampered by three years of instability before the end of the current fiscal year.

Source: Ahram Online