Egypt's Minister of Petroleum and Mineral Resources said on Wednesday that the full settlement of arrears owed to oil and gas partners marked a turning point for the sector.
Badawi added that the achievement, which reduced arrears to zero from about $6.1 billion in June 2024, "restores investor confidence and paves the way for increased upstream activity and accelerated project development".
(Reuters - Reporting by Ahmed Elimam. Writing by Tala Ramadan. Editing by Mark Potter)
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