First Independent Mena Newspaper
Shortly after Prime Minister Ali Zeidan announced on Wednesday that the Al-Harriga terminal which has a production capacity of 110,000 barrels will resume production and exportation after reaching an agreement with the protesters. Libya’s National Oil Corporation (NOC) published on its website that it has lifted the force majeure on the oil terminal on Thursday. […]
Iraq’s Foreign Minister Hoshyar Zebari will be on a working visit to neighboring Turkey as both countries continue to reinforce their bilateral relations. Ahead of his arrival on Friday, Turkish Energy Minister Taner Yıldız said that they are implementing projects worth billions of dollars in Iraq and willing to continue abiding by its rules. During […]
Egypt has denied the claims of an Israeli Minster that the shortage of gas has forced them into buying gas from Israel. Although Egypt is experiencing gas shortages, it denied contacting Israeli authorities for a possible gas deal. An unpopular 20-year gas supply deal to Israel from Egypt under the Mubarak regime was terminated by […]
The Egyptian government wants to bring the country back on its feet and has decided to add to its priorities the payment of oil debts to foreign companies that are increasing their exploration and production in Egypt. Foreign companies are owed more than $6 billion and energy subsidies reached an estimated 120 billion Egyptian pounds […]
Algeria has taken the opportunity to renew its desire of establishing a strong bilateral cooperation with Britain. David Cameron, Great Britain’s Prime Minster, has sent his representative for economic partnership Richard Risby to Algiers for a working visit. Economic ties exist between the two countries but Algeria wants to broaden it to cover more domains. […]
Oil Minister Abdelbari al-Arusi has presented the serious situation that the government is faced with, since the lockdown of its oil ports by armed demonstrators a month ago. Production has fallen by almost 60% and the Minister described it as a “big difference.” Demonstrators have vacated some of the oil ports but exportations have not […]
Authorities overseeing the Egyptian General Petroleum Corporation (EGPC) are considering the conversion of their debts of more than $5 billion into bonds. The idea came as proposals and discussions with the Egyptian Central Bank to scrutinize it have resulted in a positive outcome. These debts are owed to foreign oil companies operating in the country. […]
Algeria’s Energy and Mines Minister, Youcef Yousfi, held a closed door meeting with Eni’s Chief Executive Officer, Paolo Scaroni, to discuss the Italian company’s ongoing projects and possible future projects to be done in the country. The meeting, which was held in the capital, was also an opportunity for the company to elaborate more on […]
Muhammad Husain, the director of state own oil Indonesian company, PT Pertamina, has announced the company will be exploiting oil from Algeria in the next few months. This could allow the company to increase its reserve by 100 million barrels per day and additional crude oil output of 23,000 barrels per day. Negotiations are still […]
Three important state firms will have their headquarters moved from Tripoli to Benghazi in the drive to give the eastern city more authority. According to a government decree, Libyan Airlines, Libyan Insurance Company and the National Investment Company, as well as the Tripoli-based National Oil Corporation (NOC), will be transferred. The decree has to be […]