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29 February 2024

UAE's Dana Gas receives $60m from Egypt govt

By Reuters

Egypt's government has paid Dana Gas $60 million, part of overdue receivables totalling $212 million, the Abu Dhabi-listed firm said in a statement on Sunday.

Egypt has delayed payments to oil and gas firms as its economy has been hammered by almost four years of instability since a popular uprising ousted former president Hosni Mubarak.

The Cairo government said in November it intended to repay all its energy-related debt within six months.