debt | Egypt Oil & Gas - Part 4
Saudi to Raise Water Prices amidst Credit Downgradings
Saudi Arabia will raise the price of water for non-residential consumers, a move widely perceived as a sign the government is cutting back an expensive system of subsidies thanks to low oil prices. The rate for indust...
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 t...
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. Originally $6.5b, the dec...
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 . 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, following the first round of talks with the Nigerian authorities. Nigeria said re...
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. El Molla explained ...
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 pay debt installments to international oil companies (IOCs), es... Egypt Pays $600m of IOC Debt
In an interview with Daily News Egypt, Tarek El-Molla, Chairman of EGPC, confirmed the reduction of Egypt’s debt to foreign oil companies to the current $2.9b.“The foreign partners’ dues declined at the end of August ...
