First Independent Mena Newspaper
The ceremony for the launching of the construction of Turkey’s first nuclear power plant was held on Tuesday and Energy Minister Taner Yildiz hailed the importance of the multimillion dollar project saying that “development cannot happen in a country without nuclear energy.” The plant will be built in Akkuyu in Mersin province on the shores […]
British Petroleum has announced an investment of 11 billion euro for the development of landmark gas project in Egypt’s West Nile Delta (WND) sites expected to produce up to 1.2 billion cubic feet a day, equivalent to about 25 per cent of Egypt’s current gas production. According to BP, the WND output will significantly boost […]
Cairo announced that it has reached preliminary deals worth $6.8 billion with Kuwaiti companies for the establishment of petrochemical projects. The initial agreements signed on Sunday involved several companies including Egypt Kuwait Holding Company, Kuwait Gateway Holdings and Boubyan Petrochemical Co. Prime Minister Ibrahim Mahlab represented the government during the signing of Memorandums of Understanding with […]
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 […]