First Independent Mena Newspaper
Algiers has made it intentions known to Cairo that deals involving natural gas could only be discussed in 2014, due to the need to develop production from new fields first. According to Egypt’s oil minister Osama Kamal, Algeria doesn’t have “enough quantities to be exported to Egypt.” Algeria’s decision was prompted by the fact that […]
According to a statement released by the Algerian Ministry of Oil, Algeria is willing to open the door to Russia in an invitation made to Minster Alexander Novak. Algeria wants a stronger cooperation between oil and gas companies from the two countries in order to strengthen their participation at OPEC. The Algerian minister offered investment […]
Two senior officials in the Libyan oil ministry have claimed that Libya could be exporting $1,2 billion worth of crude oil at world prices, but on interest-free credit for a year to Egypt, in order to save the country from fuel shortages with the government finding it difficult to honor energy importation dues. These importations […]
A press statement issued by the kingdom’s Minister of Commerce and Industry, Tawfiq al-Rabiah, brought to light that projects worth more than $1,3 billion have been on the hold in Egypt. This information was revealed ahead of the Saudi-Egyptian Joint Committee meeting to be held in the Saudi Arabia’s capital, Riyadh. Several Saudi Arabian projects […]
Mauritania and its northern neighbor, Morocco, have inked several cooperation agreements meant to give a new momentum to their partnership in various sectors of common interest. The two countries, members of Arab Maghreb Union gathering also Algeria, Tunisia and Libya, have agreed to bolster joint actions and projects in the fields of transport, energy & […]
Planning minister al-Araby claimed that the economy will grow by 3.8% in 2013, while Finance minister Al-Mursi al Sayed Hegazy presented in parliament measures geared towards saving more than $5 billion as part of their annual budget prospects. Ministers are presenting prospects of their ministries for the 2013-2014 budget to the upper house of parliament […]
A Chinese delegation composed of investors and businessmen is currently on a visit to Egypt to seek new ventures. The delegation paid a visit to the industrial and investment area in Giza’s Abu Rawash. Giza is considered to be a valuable zone for business. The delegation was accompanied by the Chinese ambassador to Egypt Song […]
The first phase of the drilling campaign of Hassi Bir Rekaiz perimeter, carried out by the National hydrocarbon company Sonatrach in partnership with Thai company PTTEP and Chinese CNOOC, resulted in oil discovery in three wells, in a statement released by Sonatrach. Nine wells were drilled by the three companies at the Hassi Bir Rekaiz […]
Sanofi-Aventis pharmaceutical group has opened a state-of-art logistics hub in Casablanca, Morocco, giving a new impetus to the thriving pharmaceutical industry in the North African nation. The facility, built over a 12,000-sq/m2 zone, cost the Paris-based company an investment of 20 million euros. It will handle 1,300 products destined for local market and for export […]
Egypt will be receiving the remaining $1billion within two months from Turkey after satisfying the conditions attached to the $2billion loan agreement concluded last year to support its budget deficit. Turkey’s Eximbank will be handling the transactions. The money is needed by Egypt to suppress its problems as the government continues to run out of […]