EGPC negotiating to delay dollar payments owed to banks

CAIRO: Egyptian General Petroleum Corp (EGPC) said on Tuesday it is negotiating with banks to delay dollar payments owed on loans, an official at the company told Reuters.

EGPC also said it had not fully received its dollar needs from the Egyptian central bank for the month of November.

"We are in negotiations to delay dollar instalments that the EGPC owes. All the revenues of the EGPC are directed toward providing the country's needs for petrochemical products," the official said.