First Independent Mena Newspaper
The Middle Eastern and North Africa (MENA) countries will invest 755 billion dollars in energy projects in the next five coming years despite the falling oil prices, according to an economic study released on the 4th February 2015. Approximately 42% of these investments of USD 316 billion will be spent in power generation, 31% from […]
Circle Oil announced a new gas discovery in the Sebou Permit after two previous similar announcements in the zone. Circle Oil Plc (AIM: COP), the Middle East and North Africa focused oil and gas exploration, development and production company, described in a press release the gas discovery following the preliminary results of drilling as “significant.” […]
Chief Executive Officer of state-owned Sonatrach, Said Sahnoun, asserted that their five-year investment plan will go ahead despite plummeting oil prices. Addressing the ninth North Africa Oil & Gas Summit held in Algiers, he also said that the exploitation of shale oil for production is scheduled for 2022. Analysts believe that the global slumping of […]
Plans are underway for Algeria, Libya and Egypt to replace 50% of Russia’s Gazprom natural gas supply to Europe. Italy’s largest utility, Enel SpA, hopes that the development efforts that are ongoing in oil and gas sectors of these North African countries, especially in Algeria, will ease the process. Europe is seeking to reduce its […]
Algeria’s Energy Minister Youcef Yousfi has given assurances that the country’s oil and gas production decline did not require worries during an energy conference held in western Algerian city of Oran. His latest statement came as gas production reached growth level for the first time since the 2013 In Amenas plant terrorist attack. The developments […]
Ordinary operations are to begin at the In Amenas gas plant more than a year after the terrorists stormed it. The return of the companies came on the brink of intensified security measures to prevent another deadly terrorist attack. The announcement by Statoil to return to the plant will serve as a major boost to […]
Sonatrach, a state owned energy group, has renewed its efforts towards increasing its production levels in oil and gas with the approval of a $100billion investment plan in the next five years. The production of shale gas before 2020 is also part of their plans. The approval of the plan came ahead of the opening […]
Bilateral energy talks between Algeria and Tanzania have reached advanced stages. The two governments are involved in discussions regarding three different energy projects with reference to their electricity, natural gas and petroleum potentials. Tanzania’s Minster of energy and Minerals, Prof. Sospeter Muhongo, met with his Algerian homologue, Energy Minister Youcef Yousfi, in Algiers to further […]
Tunisian state owned oil and gas exploration and production company, Entreprise Tunisienne d’Activités Pétrolières (ETAP), will be benefitting from a $75 million corporate loan from the African Development Bank. The loan was approved by the Bank’s board of directors last month. The fund will be directed to the funding of the Nawara project as part […]
Partners in the Tamar gas field offshore Israel have concluded a letter of intent with Union Fenosa Gas SA (UFG) to supply it with gas for 15 years and a total gross sales quantity of up to 2.5 trillion cubic feet (Tcf) of natural gas, or approximately 440 million cubic feet per day over the […]