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Egypt aims to pay $2 bln to $3 bln of debt to oil firms by end of 2014 -minister

Tue, 30th Sep 2014 11:06

CAIRO, Sept 30 (Reuters) - Egypt aims to pay back $2 billionto $3 billion it owes to oil and gas companies operating in thecountry by the end of the year, the oil minister said at a newsconference on Tuesday, as the government tries to spur newinvestment to boost supplies.

The Arab world's most populous country faces a severe energycrisis, with firms reluctant to increase investments after the government fell behind on payments. (Reporting by Ehab Farouk; Writing by Maggie Fick; Editing byLouise Ireland)

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