Egypt has made a partial payment on the money it owes to international energy firms in a bid to revive confidence in its flagging hydrocarbon sector, people familiar with the matter told the Wall Street Journal. Egypt has an energy debt of around $6.4 billion. It has been paying hefty premiums for its crude supplies due to the weak Egyptian pound and dwindling foreign currency reserves. It has also been facing a slowdown in oil and gas exploration activities due to continuing civil unrest following the removal of president Hosni Mubarak from office in 2011. “Some companies already received last week some payments as part of a $1.5 billion deal we agreed to pay before the end of this year,” an Egyptian oil official who asked not be named told The Wall Street Journal. “The rest of the $1.5 billion will be paid to the companies this week as […]