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Global oil industry negatively affected by financial crisis - Fahmi

Posted on 09 March 2009

From Zawya.com: Egyptian Minister of Petroleum Sameh Fahmi said here on Friday that the global financial crisis has negatively affected the global oil industry and imposed significant challenges to producing countries, leading to a sharp decline in oil prices.

In a statement to reporters, Fahmi pointed to investments being affected by the crisis which led to the delay and slowing down of many projects, in addition to the cancellation of some due to the increase in the credit tightening in conjunction with the collapse of oil prices….. Full Article: Source


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