In attempt to increase foreign currency reserves, Democratic Republic of Congo ordered mining and oil firms to pay taxes and import duties in US dollars rather than in the national currency, the Central Bank of Congo ...
Egypt's petroleum sector aims to deliver gas to 3.5m housing units by the end of 2019, a source at the Ministry of Petroleum told Egypt Oil & Gas, adding that this move would reduce Egypt's annual imports of butane gas.
Egypt's budget for fuel subsidies has decreased by EGP 5b, reaching EGP 56b, in comparison to initial estimates of EGP 61b. The statement was made by Egyptian Petroleum minister, Tarek El Molla, during a luncheon at ...
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.
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 ...
A once-popular pair trade pitting the U.S. dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum Exporting Countries prepares to ...
The dollar touched its lowest level in 11 weeks and US and European equities remained under pressure as the recent sell-off in government bonds on both sides of the Atlantic showed few signs of abating.