Egypt has paid approximately $5bn of outstanding arrears to foreign partners in the petroleum sector and remains committed to settling regular monthly invoices, Prime Minister Mostafa Madbouly said on Wednesday. Speaking during a weekly cabinet meeting at the government headquarters in the New Administrative Capital, Madbouly stated that arrears to foreign partners stood at $6.1bn on June 30, 2024. The Prime Minister referred to a meeting held by the President to review efforts regarding Egypt’s strategy to become a regional hub for energy and gas trade. Madbouly said there are directives to intensify exploration to expand the scope of discoveries and benefit from successful experiences. The Prime Minister emphasised that the Egyptian state is committed to paying the dues of foreign partners in the petroleum sector according to a specific timeline, in addition to adhering to the monthly bills for those partners.

Source: Daily News Egypt January 21, 2026 18:31 UTC