debt | Egypt Oil & Gas - Part 3
NBE and Gas Firm Reach $32m Debt Settlement
The National Bank of Egypt and an undisclosed gas company reached a $32m debt settlement agreement to be repaid over the next 8 years.
EGPC Denies Negotiations over Dollar Repayments
The EGPC denies reports that it is seeking to delay dollar repayments to creditors, in light of Egypt's current foreign currency shortage.
EGPC Seeks to Delay Dollar Payments to Banks
The Egyptian General Petroleum Company is negotiating with banks to delay dollar payments it owes, as foreign currency requirements are not being met by the Egyptian Central Bank. El Molla: No Truth to IOCs Decreasing Exploration
Tarek El-Molla, Minister of Petroleum and Mineral Resources, said that the rumors about international oil companies (IOCs) halting exploration expenditures because of indebtedness and low oil prices is completely unt ...
Saudi Arabia Teetering Closer to Tough Production, Currency Choices
Bank of America Merrill report “Global Energy Weekly” warned Saudi Arabia that the drain on its foreign exchange (FX) reserves could accelerate to $18b per month if Brent crude oil prices average $30 per barrel.
ADF Loan to Cover $500m Owed to Foreign Companies, Petroleum Ministry
An official source at the Ministry of Petroleum said that the ministry plans to repay $500m of Egypt’s dues to foreign partners by the end of 2015.
Bahraini $1.5b Bond Sales Send Bad Signals to Debtors
Bahrain's $1.5b bond sale, last week, is a bad sign that Gulf borrowers will have to pay a lot more to issue debt in coming months because of low oil prices and less enthusiastic investors.
Qatari Power Outfit May Throw Lifeline to Malaysia Fund
1Malaysia Development Bhd (1MDB), is nearing the sale of its power assets to a consortium including Qatar's Nebras Power and China General Nuclear Power Holding Corp.
