World Bank | Egypt Oil & Gas - Part 6
ADF Loan to Cover $500m Owed to Foreign Companies, Petroleum Ministry
An official source at the Ministry of Petroleum told Daily News Egypt that the ministry plans to repay $500m of Egypt’s dues to foreign partners by the end of 2015. It will do this by making use of a $1.5bn loan obtai...
IEA: Developing Countries to Boost Energy Demand by 33% by 2040
The International Energy Agency’s annual report, World Energy Outlook, was released yesterday – predicting that demand for energy will grow by nearly a third between 2013 and 2040. This pattern will be driven by incre...
Ecuador Seeking ‘Friendly’ Resolution to Occidental Dispute
Ecuador’s President Rafael Correa said on Saturday that his country is in ‘friendly’ negotiations with Occidental Petroleum Corp over the payment of a $1.77b award the Latin American nation was order... Egypt Borrows Dollars to Pay International Oil Firms
Minister of Petroleum and Mineral Resources Tarek El Molla told Daily News Egypt that discussions are ongoing with the Ministry of International Cooperation to obtain part of their loan of dollars. El Molla explained ...
World Bank to Guarantee Ukrainian Gas Purchases
The World Bank and the European Investment Bank (EIB) have signed an agreement to provide loans worth $520m to Ukraine for the purchase of natural gas, the World Bank announced in an official statement. The agreement ...
World Bank, AFDB to Loan Egypt $1.5b
Reuters reported that the Egyptian Prime Minister said the country expects to receive $1.5b in loans from the World Bank and African Development Bank (AfDB) by the end of 2015. The decision comes as part of the countr...
Oman to Turn the Tide on Flaring with Latest Tech Knowhow
Oman Oil Refineries & Petroleum Industries Company (Orpic) has launched a multi-million dollar bidding round for the installation of a flare gas recovery project at the company’s Sohar refinery, said Trade Arabia....
Oil Price Stabilisation to Help Lower Russia’s Inflation
Further stabilization of oil prices is likely to help lower inflation in Russia, allowing the central bank to reduce rates at a faster pace, the World Bank said Monday as it raised the economic outlook for the country...
