The Egyptian Ministry of Petroleum announced the settlement of all outstanding payments to foreign oil and gas companies operating in the country, bringing the total to zero for the first time in years. These outstanding payments had reached approximately $6.1 billion in June 2024. Egyptian Petroleum Minister Karim Badawi stated that settling these dues represents a turning point for the petroleum sector and opens a new chapter of growth, investment, and increased production. He emphasized that resolving the issue of outstanding payments is not merely a financial settlement, but rather a fundamental solution to one of the most significant challenges the sector has faced in recent years.