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Tag: oil
Eni Gets New Offshore Exploration Permit in Morocco
Italian Oil & Gas Company Eni has signed a Petroleum Agreement (PA) with the Moroccan State Company ONHYM to explore the Tarfaya Offshore area, located ... Read More
Algeria’s Foreign Reserves to Further Shrink to $97 bln in 2017
Battered by falling oil and gas revenues, Algeria's foreign exchange reserves are expected to further shrink to $97 billion, down from $193 billion in 2014, ... Read More
Libya: Oil Output Falls by Over 30 PC after Armed Militants Block Pipelines
Libyan oil production has plummeted by more than 30 per cent after armed militants blocked pipelines and closed oilfields, resulting in loss in revenues of ... Read More
Cash-strapped Algeria Continues to Spend Lavishly on Defense, SIPRI
As it heeds straight towards the depletion of its oil-money coffers, Algeria imposed austerity measures, cutting subsidies and introducing taxes, while maintaining lavish spending on ... Read More
Oil/Gas Exploration: SDX Energy Inc. Upbeat over its Operations in Morocco
UK Company SDX Energy Inc. said that its drilling campaign in Morocco remains on schedule for two exploration wells in the second half of 2017, ... Read More
IMF Expresses Concern over Impact of Lower Oil on Algerian Economy
“Algeria continues to face important challenges posed by lower oil prices (…) and growth in the nonhydrocarbon sector slowed under the effects of spending cuts”, ... Read More
Libya: Haftar’s Forces Retake Lost Oil Terminals
Libyan forces aligned with renegade Field Marshal Khalifa Haftar Tuesday recaptured the two oil terminals lost to Benghazi Defense Brigades (BDB) earlier this month. The ... Read More
Brussels Denounces Algerian Restrictive Measures on Trade
The European Union (EU) has denounced "restrictive measures imposed on bilateral trade" without prior consultation with the EU, says a report released on the occasion ... Read More
Russia Continues Sneaky Tactics in Support of Haftar in Libya
Set to strengthen its foothold in a Libya beset by chaos and instability, Russia threw its weight on Libya’s strongman Marshall Khalifa Haftar whose forces ... Read More
Algeria’s Foreign Reserves Dwindle to $114 bln by end of 2016
Algeria’s finances have been severely battered by the slump in oil prices, dwindling from $178 billion in 2014 to $114 billion by the end of ... Read More