Oil | Egypt Oil & Gas - Part 94
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.
Long-serving Apache CEO Farris Retires
Steven Farris, chairman, president, and CEO of Apache Corp. (NYSE, Nasdaq: APA) will be retiring.
Industry Leaders Meet to Plan Production Optimization Convention
Several prominent figures from the oil and gas industry met last week once again for the Production Optimisation Convention steering committee, organised by Egypt Oil & Gas and is taking place in April.
More Gas, Oil from Jubilee Offshore Ghana
Tullow Oil says the deepwater Jubilee field offshore Ghana exceeded its production target last year, averaging 102,000 b/d of oil.
Plunging Oil Prices Hurt Africa Growth
The continued fall of crude oil prices on the international market may impact negatively on Africa's economic growth, the African Capacity Building Foundation (ACBF) said Friday.
Oil Drop Cuts 29% in Saudi Basic Industries Profit
Saudi Basic Industries Corp. (SABIC), the world’s biggest petrochemical maker by sales, reported a 29% drop in fourth-quarter profit as lower oil prices reduced returns from its own products.
Iran Oil Price for Budget Reduced to $40
The Iran government is revising its draft budget to assume a base oil price of $40
