Dana Gas Freezes Egypt’s Investment over Arrears

• Sunday, 12th February 2017
• by Dr. Mahinaz El-Baz

Chief Executive Officer of UAE’s Dana , Patrick Allman-Ward, said that the company will not inject new investments in Egypt because of delays in obtaining payments owed by the government, Reuters reported. The g...

Schlumberger Reduces Operations in Venezuela

• Sunday, 17th April 2016
• by Egypt Oil & Gas

Schlumberger will reduce activity in Venezuela after the world’s largest oil services provider failed to collect enough payments from the national oil company, FuelFix reported. The reduction will take place in April ...

UAE’s Dana Gas says it has received $60m from Egyptian government

• Sunday, 4th January 2015
• by Egypt Oil & Gas

Egypt’s government has paid Dana Gas US$60 million, part of overdue receivables totalling $212m, the Abu Dhabi-listed firm said in a statement on Sunday. Egypt has delayed payments to oil and gas firms as its economy ...

BG Group receives $350 mln payment from Egypt

• Sunday, 4th January 2015
• by Egypt Oil & Gas

Britain’s BG Group said on Friday it had received a $350 million payment from the Egyptian government following the country’s decision to repay outstanding debts to the energy industry. Egypt has delayed p...

Dana Gas Encumbered by Payment Delays

• Wednesday, 14th March 2012
• by Egypt Oil & Gas

UAE-based Dana Gas is struggling to cope with the payment delays owed from Egypt and Kurdistan. The company’s outstanding debt of $1billion Sukuk (Islamic bonds) has significantly strained the company’s ability to pro...