The Egyptian Natural Gas Holding Company (EGAS) signed four agreements to accelerate petroleum and natural gas exploration in the Mediterranean and Delta regions, with total investments of over $340 million.

The Egyptian Tax Authority (ETA) has denied media reports claiming a dispute between the government and oil companies over the application of the value-added tax (VAT) on crude oil, as per a statement.

The Egyptian government has paid more than $1 billion of its debts to foreign oil companies operating in the country, Prime Minister Mostafa Madbouly announced.

Minister of Petroleum and Mineral Resources Karim Badawi held a bilateral discussion with John Christmann, CEO of the US-based Apache Company, and his delegation in New Alamein City.

Egypt is set to pay off 20% of the outstanding dues of foreign oil and gas companies operating within its borders in June.