Abu Dhabi conglomerate Al Jaber Group is close to a standstill agreement on its $1-billion plus debt restructuring of debt, with more than 90 percent of lenders agreeing to the move.
April 4, 2012 3:32
Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and US financial sanctions now make it almost impossible to process payments, industry sources said.
March 26, 2012 4:17
Shipbuilder Drydocks World, a unit of Dubai World, has proposed repaying creditors in five years and is seeking more working capital as it tries to restructure a $2.2 bln loan facility, ending lengthy and complex debt talks.
March 10, 2012 4:55
Europe's debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday while adding it was still pumping above its target despite a slide in Iranian production.
March 10, 2012 4:51