El Molla Participates in the Economic Group Meeting

• Sunday, 26th February 2023
• by Fatma Ahmed

Minister of Petroleum and Mineral Resources Tarek El Molla has participated in the Economic Group meeting chaired by the Prime Minister Mostafa Madbouly, in the presence of a number of ministers, to discuss the se ...

Angolan Banks Call for Bailout as Oil Slump Cuts Liquidity

• Tuesday, 31st January 2017
• by Editorial Team

Angolan banks are appealing to the government to help put together a bailout package to protect account holders as lenders reel from low oil prices that make up almost all of the nation’s foreign-exchange earnings.

Egypt’s Enppi Seeks Foreign Funding

• Wednesday, 28th September 2016
• by Sarah Samir

Engineering for the Petroleum & Process Industries (Enppi) asked the Egyptian Ministry of International Cooperation for help in securing foreign funds.

Egypt Receives ‘B’ Rate with Stable Outlook

• Sunday, 5th June 2016
• by Egypt Oil & Gas

Fitch Ratings, one of the three biggest credit rating agencies in the world, has maintained its sovereign rating on Egypt at a ‘B’ with a Stable Outlook.

Egypt’s Foreign Reserves Increased to $17b

• Wednesday, 4th May 2016
• by Egypt Oil & Gas

Egypt's net foreign reserves reached $17b at the end of April, which marks an increase by $449m, the Central Bank of Egypt (CBE) announced.

Egypt’s GPC to Borrow EGP2b for Oil, Gas Exploration

• Wednesday, 6th April 2016
• by Egypt Oil & Gas

Egypt’s General Petroleum Company (GPC) has addressed some banks operating in the local market to obtain a loan worth EGP 2b to finance oil and gas exploration and drilling operations.

Moody’s: China, Saudi Support Improve Egypt’s Financial Standing

• Wednesday, 3rd February 2016
• by Egypt Oil & Gas

Saudi Arabia's recent pledge of $20b worth of petroleum products to Egypt over the coming five years, in addition to China's pledge of $1.7b in loans to Egypt's Central Bank (CBE) and The National Bank of Egypt (NBE) ...

Local Stability of Dollar Saves Egypt 250m a Month

• Sunday, 17th January 2016
• by Egypt Oil & Gas

The stability of the local exchange rate for the US Dollar, will save the Egyptian government an estimated EGP 250m per month; a positive reduction that coincides with the low current Brent price of $28.94 (on Sunday ...

Egypt’s Arrears to Oil Firms Rise to $3b at End of 2015

• Sunday, 3rd January 2016
• by Egypt Oil & Gas

Egypt’s overdue debt to foreign oil companies rose to $3b at the end of December 2015, up from $2.7b at the end of October, said Petroleum Minister, Tarek El Molla.