Egypt cuts oil, gas arrears to $714 million by April 2026

Egypt has reduced the accumulated debt owed to oil and gas partners from $6.1 billion in June 2024 to about $714 million by the end of April 2026, with plans to fully settle the remaining dues and bring them down to zero by the end of next month.

According to the Ministry of Petroleum, the payments were made through regular monthly settlements as part of a broader effort to reduce accumulated arrears. The measures also include a package of incentive policies to strengthen partners’ confidence.

These measures are also aimed at encouraging partners to expand investments in exploration and production development activities, supporting domestic output and reducing the import bill.

Attribution: Amwal Al Ghad English