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Libya’s Oil Storage Woes
...tput. Elsewhere, any export terminal shut-in would lead storage tanks to drink up crude to ship another day. But not in Libya. Years of fighting since the 2011 revolution have left storage infrastructure crippled (MEES, 7 September). NOC chief Mustafa Sanalla said ahead of this week’s Opec meeting th...
Volume: 61Issue: 49Published at Fri, 07 Dec 2018 -
Egypt Secures Funding For Further IOC Payments
...vember). Egypt first reduced a debt pile that had been growing steadily since the 2011 revolution with a $1.5bn tranche last December, and repaid a further $1.5bn in October. Throughout 2014, the government has also been able to promptly pay producers for current output, according to Petroleum Minister Sh...
Volume: 57Issue: 49Published at Fri, 05 Dec 2014 -
Weatherford Hit By MENA Corruption Rap As Region Ranks Poorly
...change Commission (SEC) to settle corruption charges linked to a string of incidents in the Middle East and Africa. The firm “between at least 2002 and July 2011” routinely secured business through bribes and lavish corporate hospitality, according to evidence catalogued by the SEC in a 25-page do...
Volume: 56Issue: 49Published at Fri, 06 Dec 2013 -
Saudi Mulls London Arbitration Center
...ternational bank creditors, have largely been fought in London, the Cayman Islands, New York, and other jurisdictions (MEES, 31 October 2011). After three years of legal wrangling with the two parties, international banks are still owed over $12bn. There is a reluctance to fight claims in Saudi courts by in...
Volume: 55Issue: 49Published at Fri, 30 Nov 2012