Oil | Egypt Oil & Gas - Part 60
Uruguay Settles Oil Debt with Venezuela at a Discount
South American OPEC nation Venezuela will allow Uruguay to pay off a $400 million energy debt at a 35 percent discount, Uruguay said on Monday. Uruguay will pay Venezuela $262 million to settle the debt, President Tab...
Nigeria Runs Down Oil Savings Account to Pay Debt
Nigeria’s government plans to run down its oil savings to offset revenue shortfalls and pay debt, such as salaries for state workers. The Excess Crude Account, which has a balance of about $2 billion, will be drawn do...
South Africa’s Solar Kits Surge
A motorbike accident two years ago in the Cape Town suburb of Milnerton left Pascal Kassongo with a leg fracture, multiple cuts and a written-off bike, crippling his courier business. Two weeks in hospital, followed b...
Egypt’s Debt to Foreign Oil Companies Up by 6.1%
Egypt’s debts to foreign oil companies stood at $3.5 billion dollars at the end of June, a 6.1 percent increase from March, an official at state-owned Egyptian General Petroleum Corporation (EGPC) said on Sunday...
Shoreline Plans $2 Billion Bond to Buy Africa Energy Assets
Shoreline Group, a Nigerian company with interests from oil production to rope-making across six African countries, plans to sell $2 billion in debt to buy crude and gas assets on the continent, which may include purc...
Canadian Govt Report Warns Its Not Prepared for Arctic Oil Spill
An internal report warns the federal government isn’t fully prepared to respond in the event of an oil spill in the Arctic or in deep water offshore. The document “An Emergency Response Biomonitoring Plan for Accident...
Iran’s Potential Return Would Be Bad News for Russian Oil
In Iran’s push for a nuclear deal, it’s had few better allies than Moscow. But if an agreement is reached this week, President Vladimir Putin’s regime will have at least one reason to reflect on its support. Russia, w...
Crude Oil Falls Below $60 a Barrel Amid Greek Crisis
Brent crude oil has fallen below $US60 a barrel due to concerns that the Greece crisis may stifle economic growth while also driving up the value of the US dollar. Brent closed at $US60.50 on Friday and fell in openin...
