PM: Egypt Owes Foreign Oil Companies $6 Billion

Egypt is close to agreeing to a schedule for repaying $6 billion in outstanding debt to foreign oil companies, Prime Minister Hazem el-Beblawi said in a newspaper interview published on Thursday.
Beblawi also told Al Masry Al Youm that reaching an agreement would lead to a rise in investments from the companies to $15 billion within two years.
The Egyptian state, racked by political and economic turmoil since the ouster of Hosni Mubarak in February 2011, has been struggling to …

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