taxes | Egypt Oil & Gas

Russia’s Oil, Gas Budget Revenues Fell by Amost 36% y/y in May  

The lower profit-based oil tax has caused Russia’s federal budget revenues from oil and gas, the backbone of the economy, to decrease roughly by 36% in May, compared to the same month last year, according to the R ...

Egypt Gains EGP 930 MM from Sukari Mine Taxes

The General Manager of Centamin Egypt, Youssef El Raghy, announced that Egypt received a total amount exceeding EGP 930 million from Sukari gold mine, since the start of operation until the last of December 2020.

Parliament Considers Changes to Industrial Natural Gas Prices

The Parliamentary Committee on Industry is considering proposals for re-pricing the natural gas sold to industrial purchasers and eliminating the property taxes on factories.

Saudi Arabia Cut Aramco Income Tax

Saudi Arabia issued a royal decree to decrease the income tax paid by Aramco.

Morocco Refiner Samir Appeals Court Decision on Liquidation

Morocco's oil refiner Samir has lodged an appeal against a recent court decision that placed it into liquidation and named an independent trustee to run the company, the refiner's lawyer said.

Morocco’s Sole Refiner Samir Issues Profit Warning

Morocco's sole oil refiner Samir issued a profit warning saying that its 2015 results are expected to show a widening loss after production was halted last year and its bank accounts were frozen. The company is seeki ...

MENA Oil Exporters Lost Over $340b from Oil Slump

Oil-exporting countries in the Middle East and North Africa (MENA) lost more than $340b in oil revenue from their budgets in 2015, according to the International Monetary Fund (IMF) Chief. Reengineering tax systems c ...

Norway Mulls Withdrawals from Oil Fund

As its currency slumps, Norway is considering withdrawing from its massive sovereign wealth fund,

Russia May Raise Oil Taxes

The Russian government, facing budget deficits due to low oil prices, may restructure taxes on crude to make up for the shortfall, Bloomberg

VAT May Follow Gulf Fuel Subsidy Reforms

Value added tax (VAT) is being actively considered in many GCC countries and Egypt

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