In a rare peek into Egyptian petroleum finances, Hani Dahi, head of the E.G.P.C., told the government-owned newspaper Al Ahram that the organization had paid off $9 billion in such arrears to the foreign companies in the fiscal year that ended June 30.
In Icahn's first mega-deal, in 1985, he joined Boesky and Drexel Burnham to attempt an eight-billion-dollar leveraged buyout of Phillips Petroleum, financed by junk bonds.
Venezuela has some of the world's largest oil reserves, and Mr. Chávez has benefited from the high price of oil as he uses petroleum revenues to finance social programs at home.
But Mr. Morales recently moved to use some petroleum royalties to finance new cash payments to the elderly, an attempt to forge a social security system for his nation, one of Latin America's poorest.
I was determined to change the wrong perception then, that our water ministry was not viable, compared to that of finance, petroleum, works and construction, or even electricity and steel.
The United States, despite being a leading critic of Tehran's nuclear ambitions, has been somewhat more muted than Europe on how to punish Iranian's oil industry — as American politicians have been divided in their willingness to disrupt global petroleum trading and financing to the potential detriment of strategic allies.
In India on Thursday, the ministers of finance and petroleum met to discuss higher oil prices, and some economists and government officials there now think an increase in consumer prices is inevitable.
The Senate leader also is especially popular with retirees and those in the finance and petroleum industries.
Those problems include rising costs in a sagging economy, the equitable distribution of television money, and keeping teams competitive when some owners are financed by petroleum corporations and others by the family gas station.
In 1995 the federal government decreed so-called Order 58-R, which set the volume of oil exports and obligated the Moscow Oil Refinery to build a factory for processing polypropylene-based chemicals, financed by petroleum revenues over a ten-year period.
The main sources of government finance consist of petroleum royalties and rents, import duties, and corporate income and value-added taxes.
