Egyptian oil firm EGPC denies negotiating to delay dollar payments to banks

CAIRO: The Egyptian General Petroleum Corp (EGPC) denied on Tuesday that it was negotiating with banks to delay dollar payments owed to them, a statement from the EGPC said.

“The EGPC is on track and on time with its payment of dues to others,” the statement said.

An EGPC official had told Reuters earlier in the day that the company had not received its full dollar payments from the central bank in November and was subsequently in negotiations with banks to delay dollar payments owed.

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