El Molla: No Truth to IOCs Decreasing Exploration
Monday, 30th November 2015
Tarek El-Molla, Minister of Petroleum and Mineral Resources, said that the rumors about international oil companies (IOCs) halting exploration expenditures because of indebtedness and low oil prices is completely untrue. Proof positive of this was the fact that foreign companies had not stopped work when the sum owed them was $6.3b, Egypt Oil & Gas reports.
Egypt to Renegotiate Contracts with IOCs
Sunday, 25th October 2015
Tarek El Molla, Minister of Petroleum and Mineral Resources, said that the ministry aims to renegotiate the current contracts with IOCs, in order to achieve economic balance between the foreign investor and state companies, reported Egypt Oil & Gas.
Oil Ministry in Negotiations with IOCs for LNG
Tuesday, 20th October 2015
A source at EGPC revealed to Egypt Oil & Gas that negotiations with a number of foreign oil companies are underway to buy their share of liquefied natural gas (LNG) to meet the needs of power plants and factories suffering shortages during the current fiscal year.