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Algeria’s Sonatrach signs $1 billion gas plant deal

India-based conglomerate Larsen & Toubro has signed an agreement with Algerian state-owned Sonatrach to develop three new gas treatment and compression plants on pre-existing gas fields in the North African nation. The agreement comprises detailed engineering studies, supply management of materials for the construction, trials and commissioning, training of personnel and operational assistance. The plant […]

Tunisia: sovereign credit ratings lowered

As Tunisia is at grips with a seemingly inextricable political situation, rating agencies continue to reduce its standings, in an unnecessary additional evidence that the country’s economy is not faring any better than politics.  The latest of these agencies is Standard & Poor’s Ratings Services# which lowered Tunisia’s long-term foreign and local currency sovereign credit ratings […]

Nigeria’s fuel crisis: A nation grappling with shortages, soaring prices

Nigeria is in the grip of a severe fuel crisis, characterized by widespread shortages and dramatic price increases. The state-owned Nigerian National Petroleum Corporation (NNPC) has raised fuel prices from 617 naira to 897 naira per liter, citing debts and rising global costs. This hike has triggered a domino effect, with private sellers pushing prices […]