foreign currency | Egypt Oil & Gas
Angolan Banks Call for Bailout as Oil Slump Cuts Liquidity
Angolan banks are appealing to the government to help put together a bailout package as oil price slump cuts liquidity to protect account holders as lenders reel from low oil prices that make up almost all of the nati...
Egypt’s Enppi Seeks Foreign Funding
Engineering for the Petroleum & Process Industries (Enppi) asked the Egyptian Ministry of International Cooperation for help in securing foreign funds. An official with Enppi stated that the company is planning to...
Egypt Receives ‘B’ Rate with Stable Outlook
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, informed Reuters. Egypt, the most densely populated nation in t...
Egypt’s Foreign Reserves Increased to $17b
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, wrote Aswat Masriya. The foreign currency reserves increased by $408m i...
Egypt’s GPC to Borrow EGP2b for Oil, Gas Exploration
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, Al Mal newspaper reported. GPC’s...
Moody’s: China, Saudi Support Improve Egypt’s Financial Standing
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 Ba... Local Stability of Dollar Saves Egypt 250m a Month
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
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 in an interview with Reuters. El Molla did not provid...Page 1 of 1
