Dollar | Egypt Oil & Gas

Congo Orders Oil, Mining Companies to Pay Taxes in US Dollars

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 ...

Oil Ministry Aims to Deliver Gas to Homes, Reducing Imports

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.

Oil Prices Push Down Egypt’s Fuel Subsidy Bill

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 ...

EGPC Denies Negotiations over Dollar Repayments

The EGPC denies reports that it is seeking to delay dollar repayments to creditors, in light of Egypt's current foreign currency shortage.

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 $1.1b-1.2b, reported Al-Mal.

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 repay debt installments to international oil companies (IOCs), esp ...

Ahead of OPEC Meeting, Crude/Dollar Trade Returns to the Market

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 ...

Dollar Hits a Low as Oil Prices Maintain Upward Trend

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.

Oil Prices Fall as US Dollar Strengthens

Oil prices ticked lower Monday on a stronger dollar and weak Chinese manufacturing data.

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