Oil Prices | Egypt Oil & Gas - Part 10
US Gas Firm Anadarko Cuts Capital Expenditure by 50% in 2016
The third-largest US natural gas producer, Anadarko Petroleum Corp., cut its spending plans by almost 50% to $2.8b in 2016, after recording a net loss of $1.25b in Q4 of the last year.
Nigeria Asks for $3.5b Emergency Loans from World Bank, AfDB
Nigeria’s government is in talks for concessionary loans worth $3.5b from the World Bank and the African Development Bank to help finance its planned record budget in 2016.
Gulf Stock Markets Rose Following Oil Price Surge
Gulf stock markets rose sharply for a second straight trading day on Sunday after oil prices surged at the end of January. Egypt's stock index also rose by as much as 2.1% in response to the firm tone of global equit ...
IMF Recommends Bahrain to Adopt Further Austerity Measures
Bahrain has announced austerity measures in line with IMF recent recommendations, in a bid to return to international bond market and to finance its expanding budget deficit of 15% of the country's GDP.
Venezuela in Talks with Global Oil Majors to Tackle Low Oil Prices
Venezuela has made four formal proposals to OPEC and non-OPEC states - Russia, Saudi Arabia, Iran and OPEC Head - in an attempt to summon a joint emergency meeting to tackle the continuously declining oil prices and ...
Kuwait Committed to its Planned $100b Oil Investment
Kuwait is committed to its petroleum investment plans of $100b in the next five years despite the prospect of low oil prices persisting.
Iraq Signs $328.8m Deal with GE to Stem Electricity Crisis
Iraq has agreed to a $328.8m deal with General Electric (GE) to boost electricity production capacity by 1,000 MW through providing equipment and maintenance for ten power plants across the country.
Aramco Will not Reduce Oil and Gas Investments
Saudi Aramco announced that it would not reduce its new investment in oil and gas production capacity despite the financial strain caused by low oil prices.
