Oil Prices | Egypt Oil & Gas - Part 9
Oil Output Freeze Deal Falls Apart
A deal to freeze oil output by OPEC and non-OPEC producers fell apart on April 17th after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.
Riyadh Cuts Energy, Construction Contracts Spending
Saudi Arabia has ordered its ministries to reduce spending on contracts included in the 2016 state budget by at least 5 % to outbalance Kingdom's declined revenues over global oil prices drop.
US Energy XXI Mulls Bankruptcy Protection Amid Low Oil Prices
US oil and gas producer Energy XXI may seek Chapter 11 bankruptcy protection in March if oil prices remain low and it fails to refinance its debt.
Algeria’s Sonatrach Awards $880m Drilling Tubes Deals
Algeria's state energy firm Sonatrach has awarded an $880m contract to four foreign firms for a supply of oil and gas drilling tubes. The four companies are Germany's CCC Machinery, Dutch firm Van Leeuwen, Japan's Ma ...
US Presidential Candidate Clinton Calls for Sanctions Against Iran
US Democratic presidential front-runner Hillary Clinton called for sanctions against Iran after the Islamic Republic brushed off US concerns and test-fired two ballistic missiles that it said were designed to be able ...
South African Sasol Records 24% Profit Decline
South African petrochemicals company Sasol said its earnings in the first-half of the current fiscal year dropped by 24% amid low oil prices and the company will cut its interim dividend by almost 19% in line with it ...
Iran Offers Discounted Prices of Crude to Europe
Iran has revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle East country. Iran Heavy, one of the country’s main export grades, will cost $1.25 a barrel, which ...
Oman to Seek Foreign Loans to Finance Oil&Gas Projects
State-owned Petroleum Development Oman (PDO) will in future borrow abroad if it needs to finance projects rather than ask for more funds from its shareholders.
