central bank | Egypt Oil & Gas

EGPC in Talks to Borrow EGP 10b

The Egyptian General Petroleum Corporation (EGPC) is in talks to borrow an amount of EGP 10b from a CIB-led alliance.

Algerian Central Bank Governor Fired Following Oil Price Drop

After more than a decade as Algeria's Central Bank Governor, Mohammed Laksaci has been fired by President Abdelaziz Bouteflika apparently over his management of fall-out from the 2014-2015 global oil price drop.

Egypt Receives $6bn from Saudi Arabia, UAE & Kuwait

Saudi Arabia, Kuwait and the United Arab Emirates deposited $6bn with Egypt's Central Bank, the bank's governor said, a sign that the gulf powers remain committed to propping up the Egyptian economy.

Nigerian Central Bank Calls for Tough Measures Due to Oil Prices

Nigeria's central bank ordered banks on Friday to crack down on borrowers with non-performing loans (NPLs) in a move aimed at avoiding a repeat of a 2009 industry bailout that cost the government $4 billion.

Yemen Oil Revenues in Sharp Decline

The Yemeni central bank says the nation’s oil revenues suffered a drop of about $1 billion or 37% in 2014 due to plunging crude prices and attacks on the impoverished country’s pipelines.

Saudi Calls for Energy Subsidies Reform

Saudi Arabia's central bank governor called for reforms to the country's lavish system of energy and water subsidies, which drain billions of dollars from the state budget and encourage waste by keeping down prices f ...

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