prices | Egypt Oil & Gas - Part 4
Crude Prices Jumped to 2016 Highs Ahead of Oil Majors’ Meeting
Crude oil prices jumped on 12th April and closed at 2016 highs after reports that Saudi Arabia and Russia have reached an agreement on an oil-production freeze.
Latin America Calls for Steps to Improve Oil Prices
Latin American oil producers, including main exporters such as Venezuela, Colombia, Ecuador, and Mexico, asked to take the necessary steps to stabilize the global crude market in a bid to improve prices for the benef ...
Europe’s Banks Hold Fewer Risky Energy Assets Than US Rivals
The energy exposures of the large European banks are moderate and do not present a significant risk to their earnings or capital. However, rising provisions in 2016 will weigh on profitability, Moody's Investors Serv ...
Angola to Negotiate Three-Year Loan With IMF
Angola will begin loan negotiations with the International Monetary Fund on a three-year loan facility next week as lower oil prices hammer the finances of Africa's second-largest crude exporter, the Finance Ministry ...
Nigeria to Increase Petrol Price, Considering Privatisation
Nigeria would review the price of Premium Motor Spirit –PMS, also known as petrol– in May, while Minister of State for Petroleum Resources hinted on a possible privatisation of the sector as lasting solution to its f ...
China’s Offshore Corp. Records 66% Profit Drop in 2015
China National Offshore Oil Corporation (CNOOC), the country's largest offshore oil and natural gas developer, announced that its 2015 net profit slumped 66.4% due to lower oil prices.
US Oil, Gas Companies Record Further LayOffs
As the oil and gas industry continues to struggle with the prolonged low oil price environment, more companies in the United Stated are announcing layoffs.
LatAm Oil Producers Meeting Postponed
A key meeting between Latin American oil producers and exporters planned to unify the region in backing an output freeze or other measures to bolster prices, has been postponed due to scheduling difficulties.
Nigeria Backs Oil Output Freeze
Nigeria backed Saudi Arabia and Russia in freezing oil production while giving Iran and Iraq a way out to regain some of their market share lost due to sanctions and war.
