Oil Prices | Egypt Oil & Gas - Part 38
Halliburton to Cut 5,000 Jobs
Oil and gas drilling services company Halliburton says it will eliminate at least 5,000 jobs in response to falling oil prices. The Houston company says it will lay off between 6.5-8% of its staff, which represents 5,...
Saudi S&P Credit Rating Turns Negative
Saudi Arabia, the world’s largest oil exporter, had the outlook on its credit grade cut to negative by Standard & Poor’s while other struggling energy-producing nations had their ratings lowered. The Saudi kingdom...
Saudi Discounts Shower Asia Market
Saudi Arabia, the world’s largest crude exporter, has cut its March oil prices to Asia by 90 cents – the largest discount in at least 14 years. Experts suggest the move is part of the country’s fight for global ...
Reinventing Nigeria’s Oil Dependency
As Nigerians prepare for presidential elections, the armed group Boko Haram, corruption and falling oil prices are some of the issues worrying Africa’s most populous nation. More than 90 percent of the country&#...
Oil Slump and Geopolitics Hit Dana Gas
Dana Gas, citing falling oil prices and geopolitical issues, reported on Thursday a 19.8% drop in net profit of $125 million (Dh457 million) for 2014 compared to $156 million a year earlier. Gross revenue rose 5% to $...
Abu Dhabi Cutting Oil Prices to Six-Year Low
Abu Dhabi, the desert emirate holding about 6% of the world’s oil, cut export prices for its crude for the seventh consecutive month and to the lowest since 2009 amid a global price slump. Murban crude, its main grade...
Oil Prices Rise as Signs Companies Cut Production
Oil rose again Tuesday as oil giant BP announced plans to cut exploration spending, another sign that the recent plunge in prices will lead to cuts in global production. U.S. oil rose $1.60, or 3.2 percent, to $51.17 ...
Iran Bounce Back Plans with World Largest Tanker
In a time of plunging oil prices in world markets, Iran’s inauguration of its floating oil terminal would help reduce costs of production, transportation, unloading, and exports of crude oil; with oil prices sinking d...
