Egypt to Settle $1.3 Billion Debt to International Oil Companies by End of June

Egypt's Ministry of Petroleum has announced plans to pay off $1.3 billion in outstanding debts to international oil companies by the end of June. According to Jin10, this move is part of Egypt's efforts to improve its financial standing and foster better relations with foreign investors in the energy sector. The payment is expected to enhance Egypt's credibility and attract further investment in its oil and gas industry. The Ministry emphasized the importance of timely payments to maintain trust and encourage continued collaboration with international partners.