loans | Egypt Oil & Gas - Part 3

Iraq’s Kurdistan Negotiates $3b Oil Prepayment Deal

Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3b in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position.

Oil Firms Seek EGP 1.25b Loan from NBE

State-owned Misr Petroleum Company and Petroleum Cooperative Society Company seek to have an EGP 1.25b loan from the National Bank of Egypt

Iraq Approved IMF Measures to Unlock Loans

Iraq has approved measures requested by the IMF to unlock loans that help it overcome a cash crunch caused by declining oil revenue.

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.

Ministry of Electricity to Sign $8b Worth of Deals with Japan

The Ministry of Electricity and Renewable Energy plans to sign four memorandums of understanding (MOU), and three loans with Japanese companies during President Abdel Fattah Al-Sisi's visit to Tokyo this month.

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 Bank of Egypt (NBE) ...

NBE Loans to Electricity Sector Worth EGP39.4b over 5 Years

The total amount of syndicated loans the National Bank of Egypt has made to the electricity sector over the past 5 years is approximately EGP39.4b, according to NBE Deputy Chairman, Mahmoud Montasser.

Angola Secures 10-Year Commitment from Chinese Oil Firm

Angola’s state energy company Sonangol signed a 10-year agreement with Sinochem Group seeking to increase its funds to withstand low oil price and US shale competition.

Islamic Finance Props Up Saudi Electricity Sector During Oil Slump

Saudi Arabia's Rabigh Electricity Company has signed the riyal-denominated tranche of a murabaha credit facility worth up to $666.8m.

Nova Scotia Records 72 % Rise in Bad Oil and Gas Loans

The Bank of Nova Scotia has reported a 72 % rise in bad loans to the oil and gas industry with a total sum increased to the level of $123m (C$165m) in Q4.

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