Egypt repays $350 million debt to British Gas

Egypt's government has paid $350 million to British Gas, the energy company announced on Monday, bringing the amount Egypt owes to the company down to $1.2 billion.

Egypt's debts to foreign energy firms operating in the country increased after the political turmoil which followed the 2011 revolution.

Last week, the petroleum minister announced that the government had paid $1.5 billion of its arrears to energy companies.