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.