Egypt pays $30M unsettled debts to Capricorn Energy

Updated 4/1/2024 9:17:00 AM
Egypt pays $30M unsettled debts to Capricorn Energy

Arab Finance: The Egyptian General Petroleum Corporation (EGPC) has paid down $30 million in unsettled debts due to the UK-based oil producer Capricorn Energy, as per a statement by Capricorn on March 28th.

This move came after the company’s debt from Egypt surged to $169 million in 2023, putting a spotlight on the nation's commitment to fulfilling its financial obligations to international investors.

Around $143.1 million of the $169 million receivables due from Egypt to Capricon was overdue, as reported by Reuters.

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