debts | Egypt Oil & Gas

Qalaa Holdings, Major Banks in Egypt Finalize Debt Settlement Deal

Qalaa Holdings has announced the signing of an agreement to settle all its debts to Banque Misr, Banque du Caire, Arab African International Bank, and Al Ahli Bank of Kuwait in exchange for approximately EGP 4.547 ...

MoP Arears Decline to EGP 51B

During a recent meeting, Minister of Petroleum and Mineral Resources Tarek El Molla indicated that the financial arrears of the ministry declined to EGP 51 billion after it had reached EGP 334 billion in June 2018 ...

Kima to Restructure EGP 6.8 b in Outstanding Debt

The Egyptian Chemical Industries (Kima) has agreed with a consortium of six local banks to restructure EGP 6.8 billion in outstanding debt.

NOC Targets to Produce 1.2 mmbl/d in 2021

The Chairman of Libyan National Oil Corporation (NOC), Mustafa Sanallah, stated that the company targets to produce 1.2 million barrels per day (mmbl/d) of oil during 2021 as a part of its plan for the new year.

Public Business Sector Settles Debt Owed to Petroleum Sector

The Ministry of Public Business Sector signed a protocol to settle the debt owed to the Ministry of Petroleum and Mineral Resources for business companies’ natural gas withdrawals.

The Cabinet Approves Mechanism to settle Debt Owed to MoP

The Cabinet approved to settle the debt owed to the Ministry of Petroleum and Mineral Resources by some companies affiliated with the Ministry of Public Business Sector for their natural gas withdrawals.

Electricity Sector to Pay Down Debts to Petroleum Ministry over Five Years

The Egyptian electricity sector is set to pay down the total debts to the Ministry of Petroleum within five years.

Electricity Sector Debts to Petroleum Sector Exceed EGP 110B

The Egyptian electricity sector's debts to the oil and gas sector exceeded EGP 110 billion due to the fuel consumption at electricity generating power plants.

El Molla: NOCs to Pay All Debts to IOCs by End of 2019

Egypt’s national oil companies (NOCs) will pay all debts owed to international partners before the end of 2019, oil minister Tarek El Molla has said.

Egyptian Debt to IOCs Falls to $2B

Debts owed by Egyptian state-owned oil companies to international oil companies (IOCs) fell to $2 billion in Q2 2018, down from $2.3 billion in October 2017.

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