debt | Egypt Oil & Gas - Part 6
Egypt’s Debt to Foreign Oil Companies Up by 6.1%
Egypt’s debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday...
Mergers a Key Tool in Abu Dhabi’s Debt Alleviation Plans
Abu Dhabi may merge its national energy company into another state-owned business to make the company’s crippling debts more manageable and try to turn around its performance, sources familiar with the matter to...
Egypt’s National Cement Factory Owes EGP 1Bn to EGAS
The Egyptian Natural Gas Holding Company’s (EGAS) dues from the government-owned National Cement Factory has reached EGP 1bn. EGAS demanded its money to be paid back but it is still not decided when it will rece...
Ministery of Petroleum: EGPC in Dire Financial Strain, as Debt Climbs to EGP 101bn
General Petroleum Corporation is facing a difficult financial position as this fiscal year draws to an end. Al-Bourse newspaper learned that the Minister of Petroleum appealed to the Council of Ministers to save EGPC ...
Egypt’s Carbon Holdings Hopes to Conclude $4bn Debt Financing
Egypt’s Carbon Holdings hopes to conclude a $4 billion debt financing with export credit agencies to back its $7.4 billion Tahrir Petrochemicals project by the end of this year, its chief executive said on Monda...
Nigeria’s Amcon Recovers 57% of Bad Debts Acquired from Crisis
The Asset Management Corp. of Nigeria said it has recovered 57 percent of the bad debts it took on five years ago to rescue banks in Africa’s largest economy from collapse. “We’re a little bit behind, but not too far ...
BP Scaling Back Iraq Operations as Government Payments Become Uncertain
BP has cut its development budget for Iraq’s giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State was making it difficult to pay...
Petroleum Ministry Owes EGP 100Bn to Finance Ministry
A General Authority for Petroleum senior official revealed in a statement to Daily News Egypt that the debt of the Ministry of Petroleum to the Ministry of Finance has climbed to reach EGP 100bn. The main reason for t...
