- Egypt promises to pay $1.5B of the $6B it says it owes foreign oil companies, hoping the announcement will revive confidence in an economy battered by three years of political upheaval.
- Financial disclosures by firms including BP, Apache (APA), BG Group (BRGYY, BRGXF) and TransGlobe (TGA) show Egypt owed them more than $5.2 billion at the end of 2012.
- Egypt has repeatedly promised to repay arrears to the oil companies since Morsi's removal in July.
Egypt promises to pay $1.5B arrears to foreign oil firms
Dec 4 2013, 08:17 ET