Eni Company: Egypt Continues to Settle Energy Companies' Dues

The CEO of the Italian energy company Eni, Claudio Descalzi, stated on Friday that "Egypt continues to settle the dues of energy companies despite the difficult situation it is facing due to the conflict in Gaza." Egypt is struggling with its ability to pay foreign investors due to pressures on all its main sources of foreign currency, including natural gas exports, tourism revenues, remittances from workers abroad, and currently, revenues from the Suez Canal. In a conference call with analysts following the company's results announcement, he said, "Egypt shows a positive stance towards companies investing in the country," adding that "there is a small marginal increase, but they (Egypt) are paying... perhaps in small installments, but they are paying... there is a willingness to protect investors."