First Independent Mena Newspaper
Following Europe’s unpopular attempt to develop its own shale reserves, its attention has now been shifted to Algeria which is using tax breaks to attract investments in its exploration and pipelines lying under the Mediterranean makes Europe much more eager. Algeria has already concluded shale exploration agreements with Eni SpA (ENI), Royal Dutch Shell Plc […]
The Libyan Investment Authority (LIA) on Monday flatly denied it is planning to take over Petroplus Petit Couronne, a French oil refinery which is currently in bankruptcy proceedings. “The LIA has denied the news circulated by some media and on the internet about its intention to buy an old refinery in France,” reported the Libyan […]
Reports are being featured that the Fitch Ratings Maghreb, the branch of the rating agency overseeing the region, is winding up its activities in Tunisia and will be closing its doors in the country by the end of the year. It seems as if the decision is prompted by the ongoing global financial crises with […]
President Morsi’s outstanding powers has led to demonstrations in the streets demanding him to relinquish them and it has made it effects on Egypt’s benchmark stock index is as it fell by almost 10% in the first trading session since the presidential decrees. The ongoing political tensions in an already paralyzed economy spread swiftly through […]
A trans-Saharan pipeline that will convey gas from oil fields in Nigeria to Spain on the Mediterranean coast through Niger and Algeria is scheduled to be operational by 2015 if the project succeeds to overcome all the obstacles on its long way. According to estimates, the 4128 km long pipeline is to convey to the […]
At the end of the Libyan delegation’s visit to Morocco, both counterparts seem to be happy of the outcome of the negotiations to encourage investment. The chief of the Libyan Chamber of Commerce Idriss Omran said there are ongoing feasibility studies and projects to promote investment on both sides. He called on Moroccan investors to […]
The decision of the regulator of the Egyptian market to push further the deadline of the sale of stakes of Qatar National Bank (QNB) has led to the slump of Egypt’s National Société Générale Bank (NSGB) and it has made an impact on the Cairo bourse while leaving the Gulf markets mixed in lackluster trading. […]
ADX Energy is in the process of completing two farm outs in relation to its Chorbane permit. The two farm outs are found onshore. The company is seeking for the permit so that it can carry out a seismic acquisition campaign next year. It is therefore working towards getting the permit as early as possible […]
Bidding announced by the Egyptian Natural Gas Holding Company (EGAS) to sanction the importation of Liquefied Natural Gas (LNG) by the private sector for first time in Egypt has expired although some major oil and gas companies withdrew. Companies such as British Petroleum, Royal Dutch Shell, the Kuwaiti Kharafi Group and Taqa Arabia, a subsidiary […]
The country is going through a transition period but its financial limitations has forced the Prime Minister to call for more financial support “before it’s too late” because those that pledged to help have not lived up to expectations. Prime Minister Hamadi Jebali called on the West to come to the country’s aid as he […]