Egypt is paying Dana Gas for all fuel it is receiving from its operations in the north African country and the UAE-based company is optimistic outstanding payments will be settled, a Dana Gas board member told Reuters on Wednesday.
Economic turmoil after a popular uprising unseated Hosni Mubarak in early 2011 has stretched Egypt's finances and it fell behind in its payments to several fuel suppliers.
Dana Gas was still owed 729 million dirhams ($198.5 million) for unpaid fuel bills by Egypt as at June 30, 2012, but Cairo has been keeping up payments for current supplies.
No comments:
Post a Comment