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Oil & Gas

SDX Energy and Merlon Int'l reach agreements to pay suppliers in EGP

Posted: January 3, 2017 at 1:46 pm   /   by   /   comments (0)

sdx-merlonOil and gas companies SDX Energy and Merlon International have reportedly reached agreements with their suppliers and contractors in Egypt to repay them in EGP, sources told Al Mal.

The initial agreements allowed companies to pay 40% of their receivables in EGP, but the fall in international oil prices, delays in payments from EGPC, and the EGP devaluation have driven the companies to increase the portion they pay in EGP.


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