debt | Egypt Oil & Gas - Part 2
Venezuela’s PDVSA Gives Paraguay Deadline to Repay Debt
Venezuela’s state oil company, PDVSA, has given Paraguay a 10-day deadline to pay a $287m debt for crudes sales dating back to 2009. However, Felipe Oddone, communications director for Paraguayan President, Hora...
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, Prime Minister, Abdelmalek Sellal said accordi...
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. The minister denied as rumors recently published information that the country...
The Government Owes the Electricity Ministry EGP 10.8b
The ministry of electricity is owed by state entities EGP 10.8b, an official at the ministry of electricity told Al Mal. The majority of the debt is owed by the Holding Company for Water and Wastewater (HCWW), where ...
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, The Telegraph reports. The struggling firm has appointed restructuring ...
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, reported Al Borsa. Egypt Air has stopped paying for the fuel, which lead to the escalation of their debt, said an offi...
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, a...
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, Industry...
