deficit | Egypt Oil & Gas

Egypt’s Oil Trade Balance Achieves Surplus of $174.9 mm

The Egyptian oil trade balance achieved surplus estimated at $174.9 million during the first nine months of the fiscal year (FY) 2020/21 compared to a deficit of $773.3 million.

Higher Oil Prices Shrink Saudi Deficit

A strengthening in Saudi Arabia's government finances has allowed the kingdom to stop drawing down its foreign assets.

Nigeria Loses 40,000MW of Energy over Hampered Gas Investments

Hampered gas investments resulting from oil companies' recorded deficit have deprived Nigeria of 40,000 MW of electricity generated from natural gas reserves.

Iraq Signs $328.8m Deal with GE to Stem Electricity Crisis

Iraq has agreed to a $328.8m deal with General Electric (GE) to boost electricity production capacity by 1,000 MW through providing equipment and maintenance for ten power plants across the country.

Saudi Arabia Able to Withstand Oil Prices: Saudi FM

Saudi Foreign Minister, Adel al-Jubeir, has announced that Saudi Arabia can withstand the impact of low oil prices on state revenues and economic growth, reported Reuters.

Saudi Plans Delayed as Credit Rating Drops with Oil Prices

Saudi Arabia's cabinet has deferred for further study a decision on limiting the private sector work week to 40 hours

Saudi Seriously Contemplating Slashing Energy Subsidies

Oil Minister Ali al-Naimi confirmed suspicions that the Saudi kingdom could cut its system of energy subsidies

Saudi Arabia in Cash Flow Crisis

Informed sources told Bloomberg that Saudi Arabia is delaying payments to government contractors thanks to the oil price slump.

Norway Mulls Withdrawals from Oil Fund

As its currency slumps, Norway is considering withdrawing from its massive sovereign wealth fund,

Saudi Arabia Contemplating Wide-Ranging Cuts Under Price Pressure

Bloomberg has cited anonymous but well placed sources that Saudi Arabia is working with advisers on a review of the country’s capital spending plans to save money.

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