Dana gas to freeze new investments in Egypt, might review decision upon government payment
Dana gas will not initiate any new investments in Egypt due to the delays in obtaining payments owed from the Egyptian government, according to Reuters. CEO Patrick Allman-Ward mentioned that the company must balance any additional capital investment in Egypt with the actual collections. He also noted that the company might review its decision to freeze the investments once the government made the payments, hinting that the company wanted to develop its asset in Egypt. Finally, the news source pointed out that Dana Gas will complete its current investments in Egypt. (Reuters)
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