IOCs

Egypt Debt to IOCs Stands at $3b

During a press conference, Tarek El Molla, Minister of Petroleum and Mineral Resources, said that currently the debt owed to foreign oil companies stands at $3b, reported Egypt Oil & Gas.

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 ...

Egypt’s Petroleum Minister: Foreign Partner’s Monthly Oil, Gas Shares Declined by 26%

New Minister of Petroleum and Mineral Resources Tarek El Molla said that the value of foreign partners’ share of oil and gas declined by 26% from $880m in FY 2014/2015 to reach $650m per month during current FY 2015/ ...

IOCs Must Pay Iran Debts Once Sanctions are Removed, Official

International oil companies’ pending debts to Iran stand around $18 billion, with British, Korean, Indian and Greek processors owing much of the sum, an official says.

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