File - Egyptians wait in their cars at a gas station in Cairo, Egypt, Monday, Jan. 16, 2012. (AP Photo/Ahmed Ali)
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Explorers in Egypt expect constraints on domestic energy prices to loosen, urging new investment in oil and natural gas fields.Companies including Citadel Capital SAE, Circle Oil PLC and Petroceltic International PLC expect President Abdel-Fattah al-Sisi to make good on promises to reduce subsidies of more than $20 billion a year and ease demands that producers sell fuel on the domestic market well below international prices, they said at a conference in London on June 27 .Egypt plans to pay at least $1.5 billion to energy suppliers before the end of the year, or about a quarter of its debt as of April, Reuters reported June 26, citing Oil Minister Sherif Ismail.
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