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Oil & Gas

Energean might reduce its budget for Egypt by $140 million

Energean
Posted: March 29, 2020 at 8:31 pm   /   by   /   comments (0)

Mediterranean gas group Energean might cut its budget for Egypt by USD 140 million as oil and gas companies cut back on spending amid the covid-19 pandemic and a simultaneous oil price war. Energean has already cut its planned outlay in Greece and Israel by USD 155 million.

Mediterranean gas group Energean said it would cut its investments by $155 million in Greece and Israel and could reduce its budget for Egypt by another $140 million if needed without endangering delivery of its long-term offtake deals.

(Sources: Enterprise.press & Reuters)

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