Chevron’s $225M Dues to be Paid Gradually by Interim Govt

Industry: Energy & Power, LNG
Company: Chevron
Company Intelligence Tag: Business Insights

The interim government plans to gradually pay Chevron’s $225 million outstanding dues over the next year while ensuring regular cash payments for newly supplied gas. Currently, Chevron supplies gas worth an average of $40 million per month. In addition to these payments, the government will pay $10-15 million from the outstanding dues each month. Chevron’s dues have increased partly due to internet shutdowns during recent student protests, affecting the energy sector’s financial stability. By September 10, outstanding bills in the energy sector were reduced to approximately $900 million, with significant amounts still owed for oil, LNG, and electricity imports. The government is seeking $2 billion in budget support from the World Bank and ADB and has requested an additional $350 million loan from the Islamic Trade Finance Corporation to manage these dues.

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