Egypt’s presidential election next month may see government agencies throw their weight behind former Defense Minister Abdel-Fattah al-Seesi, according to Hamdeen Sabahi, who plans to contest the vote.
Qatar’s national oil company has dropped out of a group of state-backed investors seeking to buy a stake in Occidental Petroleum Corp.’s Middle East business amid a political dispute in the region, people with knowledge of the matter said.
Qatar National Bank, the nation’s largest lender, hired McKinsey & Co. to help formulate a strategy for its Egyptian business as it seeks to boost operations, two people with knowledge of the matter said.
UBS AG is standing by its recommendation investors buy shares in Ratio Oil Exploration 1992 LP even after a delay in the proposed sale of a stake in Israel’s Leviathan gas field, the company’s most valuable asset.
Occidental Petroleum Corp., seeking to raise as much as $8 billion by selling a stake in its Middle East business, said a political dispute in the region is complicating plans to sell to a single investor group.