First Independent Mena Newspaper
CEO of Algeria’s oil and gas company Sonatrach Toufiq Hakkar said on Feb 27 his country was ready to tap the potential of a 10 cubic meter pipeline to Italy, but a day later he backtracked on his promise casting doubt on Algeria’s limited gas production capacity, in a volte-face that indicates a fear of […]
As pro-democracy protests continue to rattle the Algerian regime, Algeria marches ahead to an economic disaster as domestic energy consumptions nears levels of gas and oil production. Since 2007, Algeria’s consumption of oil and natural gas has risen by more than 50 percent while its oil production has fallen by 25 percent. With less oil […]
There is new hope for the oil industry in Congo as the recent onshore discovery made in the Delta de la Cuvette indicates that the deposits could produce up to 359 million barrels of oil, or 983,000 bopd, from this central province. Congo’s current production stands at over 330,000 bopd according to OPEC’s latest figures. […]
South Sudan and Kenya seek to boost their cooperation in the oil sector. To this end, South Sudan petroleum minister Daniel Awow Chuang, and his Kenyan counterpart John Munyes met in Juba to discuss ways of enhancing cooperation in the areas of oil infrastructure development and experience sharing, State-owned radio South Sudan Broadcasting Corporation […]
Egypt is expecting foreign investment in the oil and gas sector to reach about $10 billion in the 2018/19 fiscal year, Petroleum Minister Tarek El Molla said. According to Molla, Egypt expects foreign investments to total the same amount for the current fiscal year, marking a 25 percent increase from the previous year. Last year […]
Exxon Mobil and Mauritanian authorities have signed three production-sharing contracts for three deep-water exploration blocks. “These blocks further enhance ExxonMobil’s leading global deep-water acreage position,” said Steve Greenlee, president of ExxonMobil Exploration Company in a statement. “We thank the government of Mauritania for the opportunity to evaluate the potential of this acreage using our expertise […]
After making a significant onshore gas discovery in Tendrara in Morocco’s north east, Sound Energy confirms the success of a second TE-7 gas well lying only 1.6 kilometres away from its TE-6 first well. “I am pleased to report the success of our second well at Tendrara and that the use of sub-horizontal drilling techniques […]
Morocco is on track to becoming a player in the gas market following the successful drilling of the Tendrara wells, east of the country, which are expected to be pumping gas by 2019, said Interfaxenergy.com, a news outlet specialising in gas market. The same source said that the UK-based explorer Sound Energy sees promising prospects […]
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 […]
Algeria, member of the OPEC Cartel and a major oil & gas producer in the region, has raised regional and international concerns when it announced plans to build a nuclear power plant at a time social tensions are growing at home amid a political and economic crisis. The Algerian nuclear project was discussed lately with […]