Dana Gas says Egypt government owes it $270m | GulfNews.com:
"Sharjah-based regional private sector natural gas company, Dana Gas, has said it is owed $270 million (Dh990.9 million) by the Egyptian government in back payments for the gas it produced.
“The company is conducting positive discussions with the relevant authorities and looks forward to an early resolution,” the company said last week in a statement.
The statement from Dana Gas comes at a time when Egypt, according to a Reuters report, owes at least $5 billion (Dh18.3 billion) to oil companies producing oil and gas on its territory, with half of it overdue. The report said the Egyptian government, seeking to avoid public unrest, has delayed oil payments as it struggles to meet soaring energy bills caused by high subsidies on fuel products. Some of the debts were accumulated even before President Hosni Mubarak was ousted."
'via Blog this'
No comments:
Post a Comment