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12 Sep 23
More than $12bn of cash injections from the government and a lower profit sharing rate will not be enough to get Mexico’s state oil company back to sustainability, although it will help in the short...
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9 Jun 23
Libya is too reliant on oil and gas, the International Monetary Fund found in its first review of the economy in a decade – during which analysis was made impossible by war and fragmentation.
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1 Nov 22
Oil companies making vast profits because of high prices pushed up by the war in Ukraine could have to pay more tax if they do not lower their prices, US president Joe Biden has said.
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15 Aug 22
High oil revenues will give Oman two years of budget surpluses, pushing its debt below many of its peers, and continuing reform efforts look set to keep its public finances on solid ground, ratings...
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26 Jul 22
Nigeria’s revenue fell below the cost of servicing its debt in the early months of 2022, despite high oil prices.
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1 Jul 22
Fitch has dimmed its view of government credit conditions amid Russia’s ongoing invasion of Ukraine and the resulting international sanctions.
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3 Sep 21
Mexico’s new finance minister has confirmed that the government will continue to offer support to state-owned oil company Pemex, which is in billions of dollars of debt.
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21 Jun 21
Continued over-reliance on oil has left Gulf Cooperation Council countries very exposed to shocks amid faltering diversification efforts, analysts have warned.
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15 Jun 21
Kuwait’s central bank chief has said economic stability is “unattainable” without reforms to the oil-dependent, public-sector-dominated economy.
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9 Feb 21
State-owned oil companies risk wasting $400bn on oil and gas projects that will only break even if the world fails to meet the Paris agreement climate goals, according to a report from an NGO.
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23 Oct 20
The Omani Sultan has approved a medium-term fiscal plan in the hope of balancing the country’s public finances and decreasing its dependence on oil revenue.
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7 Apr 20
Nigeria has asked for nearly $7bn from multilateral lenders to help it fight the impact of the coronavirus pandemic after its economy was hit by falling oil prices.
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7 Nov 19
Supporting its non-oil sector will be crucial to support long-term sustainability in the United Arab Emirates, an IMF economist has said.
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20 Jun 19
Canada has become the latest country to declare a national ‘climate emergency’ after parliament pledged to stand by promises to reduce greenhouse gas emissions.
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4 Apr 19
The World Bank is allocating $20m to help Guyana create the regulations and institutions needed to develop its rapidly growing oil and gas sector.
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11 Mar 19
The Norwegian government has announced its intention to sell its trillian-dollar sovereign wealth fund’s stakes in oil and gas exploration and production.
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29 Jan 19
Russia’s finance ministry has called upon Venezuela to make its next scheduled debt repayment to the country on time.
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30 Jul 18
Mexico’s newly elected president has pledged to boost the country’s long-neglected oil sector, he announced on Friday.
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30 Apr 18
Oil prices are forecast to average at $65 a barrel, up from $53 in 2017 as consumer demand and restraint by oil producers have increased.
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15 Dec 17
The World Bank will end all financial support for new oil and gas projects from 2019, it announced at a climate change summit in Paris on Tuesday.
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2 May 17
Countries in the Middle East and North Africa region will need to push ahead with economic reforms to improve growth, according to the International Monetary Fund.
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24 Apr 17
The king of Saudi Arabia has reinstated generous benefits for civil servants by royal decree to allay potential discontent in the country.
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22 Mar 17
Nigeria today launched an IPSAS-compliant accounting solution to be rolled out across the country’s federal, state and local government.
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17 Feb 17
Growth in West Africa is at risk due to governments continually shelving plans to cut spending and raise taxes, the International Monetary Fund has warned.
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17 Feb 17
Significant changes to the operation of the world’s largest sovereign wealth fund have been outlined in proposals from the Norwegian government.