Oil Prices | Egypt Oil & Gas - Part 12
KRG Struggling for Cash as Oil Debts, ISIS Threat Mount
The autonomous Kurdistan Regional Government (KRG) in northern Iraq announced that it may sell parts of its electricity sector to raise funds to reduce its budget deficit.
Nigeria to Revise National Budget amid Low Oil Prices
Nigerian President Muhammadu Buhari has asked parliament to withdraw the 2016 budget in order to make changes.
Saudi Oil Minister: Multilateral Cooperation Will Achieve Oil Stability
The Saudi Oil Minister, Ali al-Naimi, said that oil-market stability would only be achieved through cooperation among major oil producers, but that this would likely take time.
Saudi Kayan Posts $116.3m Losses for First Time
Saudi Kayan Petrochemical Co. reported a net loss of $166.3m in Q4 of 2015, the largest loss Kayan had suffered since it was first listed in 2007.
Bahrain Mulls Offshore Gas Exploration Bids
Bahrain is looking into launching a new international bid round for offshore gas exploration seeking to reduce its dependence on gas supplies from other regional players, and instead boost its domestic gas production ...
Oil Prices Push Down Egypt’s Fuel Subsidy Bill
Egypt's budget for fuel subsidies has decreased by EGP 5b, reaching EGP 56b, in comparison to initial estimates of EGP 61b. The statement was made by Egyptian Petroleum minister, Tarek El Molla, during a luncheon at ...
UAE Denies Nigeria’s Call for Emergency OPEC Meeting
The UAE has denied claims made earlier by Nigerian Petroleum Minister that an emergency meeting of OPEC was in order to discuss the current oil pricing policy amid a 12-year low drop of oil prices to $30.
Oman Takes Long-Awaited Fuel Price Reforms
Oman has announced it will rise gasoline prices as of mid January. The move has been ascribed to the impact of persistently low oil prices.
