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Sunday, April 30, 2017
Egypt’s Oil Minister, Tarek El Molla, revealed at an oil and gas conference that debt owed to international oil companies (IOCs) would be paid down by about half. Egypt currently owes international oil companies an estimated €3.5 billion. “We have made a lot of progress on paying off arrears,” El Molla said. The payments should be made over the next few weeks.
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