debt | Egypt Oil & Gas - Part 2
Algeria to Issue Local Debt to Offset Global Oil Price Drop
Algeria plans to issue local-currency debt as a source of financing to offset the collapse in world oil prices, which halved government's energy revenues last year.
El Molla: Egypt’s Debt to Foreign Partners Not Exceeding $3b
Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the sector's debt to foreign partners has not exceeded $3b, and denied recently published rumors that country's indebtedness allegedly increased ...
The Government Owes the Electricity Ministry EGP 10.8b
The ministry of electricity is owed by state entities EGP 10.8b. The majority of the debt is owed by the Holding Company for Water and Wastewater (HCWW), where its debt to the ministry of electricity amounts to EGP ...
Petroceltic Thrown Lifeline by Creditors
Irish oil exploration company, Petroceltic, a firm with holdings in Algeria and Egypt, was given an extension to January 29th to repay its debts.
Egypt Air’s Debt to EGPC Escalates to EGP 7b
Egypt Air’s dues to EGPC have expanded to reach EGP 7b, rising from EGP 5.5b in under six months.
Egypt’s Oil Sector to Get $200m Loan from World Bank
The World Bank will grant the Egyptian Ministry of Petroleum a $200m loan. The amount is part of a $1b loan agreement recently signed by both parties, part of which is earmarked to pay dues to foreign oil companies.
Brazilian Petrobras Slashes Production, Capital, Investment Plans
Brazil's state-run oil producer, Petróleo Brasileiro SA (Petrobras), has slashed its production targets by 1.8% to 2.1mb/d and capital spending budget by 24.5% to $98.4m in the period between 2015-2019.
Energy Firms Owe Nigerian Banks $20b
Energy firms owe Nigerian banks N4t ($20b) as of September 2015, according to data from the Central Bank of Nigeria.
