Special to WorldTribune.com CAIRO — Egypt has signed energy deals with Western majors as well as Tunisia. The Egyptian Petroleum Ministry said the Cairo government signed crude oil and natural gas exploration contracts worth $187 million with companies from Canada, Germany, Italy and Tunisia. The ministry said Germany’s RWE was awarded two exploration blocks while […]
Special to WorldTribune.com LONDON — Iraq, a leading ally of neighboring Iran, plans to challenge Saudi Arabia’s dominance of the global energy market. Officials and analysts said the Shi’ite government of Iraqi Prime Minister Nouri Al Maliki was working to triple crude oil capacity by 2020 in an effort to end Riyad’s role in the […]
Special to WorldTribune.com NICOSIA — Iran, relieved of some sanctions, has been wooing Western energy majors. Officials said the Oil Ministry was in contact with seven Western oil companies to renew operations in Iran. The companies were identified as Britain’s BP, the U.S. ExxonMobil and Conoco Phillips, France’s Total, Royal Dutch Shell, Italy’s ENI and […]
Special to WorldTribune.com CAIRO — Egypt has advanced in negotiations to repay its $6 billion debt to foreign energy companies. Prime Minister Hazem Beblawi said Egypt was drafting a schedule for the repayment of its $6 billion debt to Arab and Western energy companies. Beblawi acknowledged that the debt has suspended foreign energy investment plans […]
Special to WorldTribune.com BAGHDAD — Iraq, despite huge reserves, has seen a loss of interest by Western energy majors. Industry sources said Western contractors have reduced their activity in Iraq while focusing on other areas, including the autonomous Kurdistan in the north. The sources cited rampant corruption as well the insurgency war, factors that the […]