debt | Egypt Oil & Gas - Part 4
Brazil’s Oil Union Strikes over Asset Sales, Slashed Investments
Brazil's oil-workers' union began a strike on November 1, protesting asset sales and cuts in investment on the part of Petroleo Brasileiro SA, the nation's state-owned oil company, which is seeking to reduce its enor ...
Egypt Debt to IOCs Stands at $3b
During a press conference, Tarek El Molla, Minister of Petroleum and Mineral Resources, said that currently the debt owed to foreign oil companies stands at $3b, reported Egypt Oil & Gas.
Petroleum Products Imports to Increase to $1.3b/Month
Sources at EGPC revealed that the rise in the dollar value will increase the crude oil and petroleum derivatives import bill to reach $ 1.3b a month in comparison to the previous range of $1.1b-1.2b, reported Al-Mal.
Ghana Pays $10m to Nigeria to Avoid Gas Supply Cut
The Ghanaian government has settled part of its debt to the West African Gas Pipeline Company (WAPCo) and Nigeria Gas Association, NGA. Nigeria said recently it will cut gas supply by 70% to Ghana’s main power genera ...
Egypt Borrows Dollars to Pay International Oil Firms
Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that discussions are ongoing with the Ministry of International Cooperation to obtain part of their loan of dollars.
Elevated Dollar Value May Impede Egypt’s Ability to Pay IOCs
A state official told Egypt Oil & Gas that higher dollar exchange rates in the local market are threatening the ability of the Egyptian government to repay debt installments to international oil companies (IOCs), esp ... Egypt Pays $600m of IOC Debt
In an interview with Daily News Egypt, Tarek El-Molla confirmed the reduction of Egypt's debt to foreign oil companies to the current $2.9b.
Egypt Air Debt to EGPC Climbs to EGP 5.9b
Egypt Air's dues owed to EGPC jumped to EGP 5.9b by the end of July compared to 5.7b in the month of April 2015. This is the result of the Egypt Air's decision to stop paying the full value of the fuel it receives an ...
