Chesapeake to Half Number of Active Rigs

• Tuesday, 30th June 2020
• by Editorial Team

Chesapeake Energy has announced its long-term plan amidst filing for bankruptcy and will operate half the number of active rigs in the second half of the year compared to Q1, according to Reuters. Chesapeake was the l...

Glencore, Carlyle Team to Buy Moroccan Refinery

• Wednesday, 17th May 2017
• by Dr. Mahinaz El-Baz

Swiss trading giant Glencore and U.S. private equity investor Carlyle Group have teamed up in an attempt to buy Morocco’s only oil refinery, hoping to recoup about $600m in loans they issued to the plant before ...

US Energy XXI Mulls Bankruptcy Protection Amid Low Oil Prices

• Monday, 14th March 2016
• by Egypt Oil & Gas

US oil and gas producer Energy XXI may seek Chapter 11 bankruptcy protection in March if oil prices remain low and it fails to refinance its debt, the company said in a regulatory filing, Reuters reported. Even with t...

Libya Risks Facing Bankruptcy as Oil Prices fall

• Sunday, 8th February 2015
• by Egypt Oil & Gas

Rome: The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if its oil output and prices on international markets continue to fall. In a statement voicing alarm at the d...