Payment | Egypt Oil & Gas - Part 2
SDX, Merlon to Pay Contractors in EGP
Sea Dragon Energy (SDX) and Merlon International Oil Firms reached agreements with their suppliers and contractors in Egypt to repay them in EGP instead of USD based on the exchange rate, reported Al Mal News. Constru...
Sonangol Delayed Cash-Calls to Oil Majors
Angola’s state oil company Sonangol has amassed hundreds of millions of dollars in debts and deferred payments to oil majors and contractors while its new chief, Isabel dos Santos, attempts to reform its operati...
Egypt Paid EGP 19.5m to Cairo Solar
Cairo Solar’s CEO, Hisham Tawfik, stated that the Egyptian Ministry of Electricity reimbursed EGP 19.5m to the company, after it had withdrawn from country’s Feed-in-Tariff (FiT) energy purchasing program....
Rosneft Receives Payment for First LNG Cargo to Egypt
Egypt has paid $15.6m for its first ever supply of liquefied natural gas (LNG) from Russian state-owned oil company Rosneft delivered to the country in May 2016, Tass Russian News Agency reported. The volume of 0.06mt...
Halliburton Joins Schlumberger in Cutting Venezuelan Activity
Halliburton has joined rival Schlumberger in curbing activity in Venezuela due to lack of payment during the oil industry’s worst financial crisis. “During the first quarter of 2016, we made the decision to begi...
Gazprom to Take Legal Action Against Turkmengaz
A spokesman for Russia’s Gazprom confirmed Friday that the corporation has filed a case against Turkmengaz, Turkmenistan’s state gas company, at the international arbitration court in Stockholm, Sweden. According to R...
Egypt Revises Debt Payment Plan for Oil Companies
Egypt aims to fully repay its . 1 billion debt to foreign oil and gas companies by mid-2016, around a year later than previously indicated, according to the oil ministry. “All current operational payments have b... Circle Oil receives $15 Million Payment from Egyptian Government
Oil and gas explorer Circle Oil said on Friday it had received a $15 million payment from the Egyptian government as part of Egypt’s plan to pay off debts owed to energy companies operating in the north African ...
