Oil | Egypt Oil & Gas - Part 93
Egypt Considers Cutting Fuel Subsidies by a Further EGP 20 Billion
Egypt is considering whether to reduce fuel subsidies by EGP 20 billion ($2.64 billion) next fiscal year, but it needs to study the social implications before reaching a decision, the investment minister said on Thu ...
US Oil Workers go on Strike
US union leaders have launched a large-scale strike at nine refineries after failing to agree on a new national contract with major oil companies.
Drop in Oil Prices Causes Mexico to Cut Spending
Mexico will cut government spending by $8.4 billion this year because of a drop in revenues due to declining oil prices.
Mergers and Acquisitions in Oil and Gas Industry at 10-year High
Mergers and acquisitions (M&A) in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to PwC US.
Gulf Marine Services SESVs for MENA
Gulf Marine Services has been awarded a major new long-term contract in the MENA region for one of its Large Class SESVs (self-elevated support vessels)
Disputed Kurdish Tanker Leaves Texas
More Kurdish oil will probably head to the U.S. even as a tanker carrying 1 million barrels of disputed crude returns to the Mediterranean Sea six months and $60 million less valuable after anchoring off Texas.
Iran Scales Back Development Fund
“The share of National Development Fund of Iran (NDFI) from oil [revenues] has been reduced to 20%,” Mohammad Mehdi Mofateh, spokesman for the parliament (Majlis) Ad Hoc Budget Review Committee, said on Tuesday.
Egypt Cancels Iraq’s Debts for Oil Shares
Reports revealed that the Egyptian and Iraqi governments have reached the proposal on the Iraqi debt to be canceled in exchange for shares of oil.
