First Independent Mena Newspaper
The head of In Salah Gas announced Saturday a cut by 40 per cent in the number of foreign workers by the end of the year as a measure to shore up collapse of oil price and to reduce costs, reports say. In Salah Gas is a joint venture between national Sonatrach, British Petrolium (BP) […]
French utility company, Engie SA, wants to sell its gas exploration units in Algeria as part of a larger plan to offer its assets in Africa and Europe in a bid to reduce its exposure to volatile oil and gas prices, Bloomberg reported. “The company is planning to sell its upstream operations globally including businesses […]
An Algiers criminal court Monday handed the head of the private KBC TV channel, his production manager and an official of the ministry of culture suspended prison terms in the affair related to the recording of TV programs in alleged outlawed studios. Mehdi Benaïssa, head of critical KBC TV and his production manager, Ryad Hartouf […]
The fall in oil prices has taken a toll on Algeria’s foreign exchange reserves, which are expected to decline to $116 billion, Algria’s Prime Minister Abdelmalek Sellal said. At a context of a long-term slump in oil prices, the Algerian government is planning further cuts to curb spending over the next few years after the […]
Algeria’s gas production and export capacity is facing dim prospects with estimates the North African country to be a net gas importer of Liquefied Natural Gas (LNG) in two decades, warned the former Algerian energy minister Nordine Ait-Laoussine. Ait-Laoussine, who was speaking to Interfax Natural Gas Daily, said that politics and bureaucracy are contributing to […]
An Algerian administrative court on Wednesday upheld its last month provisional ruling cancelling the multimillion dollar takeover of the private El Khabar media group by Ness-Prod, a subsidiary of agribusiness group Cevital owned by billionaire Issad Rebrab. The court ruled that the agreement reached between the two parties is null and that El Khabar’s newspaper […]
French oil company Total has taken its dispute with Algerian authorities to the International Court of Arbitration, via the International Chamber of Commerce in Geneva. Total contests Algerian state oil & gas producer Sonatrach decision to change profit-sharing terms on oil and gas contracts in the mid-2000s. “We tried as always to find a mutual […]
The French Senate issued recently a report accusing Algeria of complicity over a host of sorts of arms and goods trafficking in the Sahel and Saharan region. The report dubbed, Rethinking Public Development Aid in The Sahel, says Algeria turns a blind eye to arms trafficking originating from Libya and transiting through its territories to […]
Algeria’s Prime Minister Abdelmalek Sellal announced recently a government plan to establish a helicopter production plant in a joint venture with a foreign partner that he did not name, the Algerian news Agency APS reported. “The National Investment Council (NIC) and the Council of State holdings (CPE) have agreed to create a high-end helicopter manufacturing […]
El Massa, a government newspaper, reported that security forces have foiled a major terrorist attack on the Park Mall in Setif and other planned attacks during the month of Ramadan. Militants linked to the Islamic State group operating in neighboring Libya planned to carry out the attack on the mall, which attracts about 40,000 shoppers […]