First Independent Mena Newspaper
Algiers has made it intentions known to Cairo that deals involving natural gas could only be discussed in 2014, due to the need to develop production from new fields first. According to Egypt’s oil minister Osama Kamal, Algeria doesn’t have “enough quantities to be exported to Egypt.” Algeria’s decision was prompted by the fact that […]
According to a statement released by the Algerian Ministry of Oil, Algeria is willing to open the door to Russia in an invitation made to Minster Alexander Novak. Algeria wants a stronger cooperation between oil and gas companies from the two countries in order to strengthen their participation at OPEC. The Algerian minister offered investment […]
Two senior officials in the Libyan oil ministry have claimed that Libya could be exporting $1,2 billion worth of crude oil at world prices, but on interest-free credit for a year to Egypt, in order to save the country from fuel shortages with the government finding it difficult to honor energy importation dues. These importations […]
The Libyan oil law being drafted by a committee is expected to be ready before September “if all goes well” according to oil minister Abdelbari al-Arusi. The law has to come into force before a licensing round can be launched, but most analysts remain pessimistic about the law being passed. Minister Arusi said that the […]
The first phase of the drilling campaign of Hassi Bir Rekaiz perimeter, carried out by the National hydrocarbon company Sonatrach in partnership with Thai company PTTEP and Chinese CNOOC, resulted in oil discovery in three wells, in a statement released by Sonatrach. Nine wells were drilled by the three companies at the Hassi Bir Rekaiz […]
Libya has announced new oil and natural gas discovery in the Ghadames basin southwest of Tripoli, opening new prospects for the battered economy of the North African country. This new oil & gas find was made by the Libyan National Oil Corporation (NOC) and Algerian state-owned Sonatrach. The discovery consists of one oil field with […]
Longreach oil and gas limited, an independent oil and gas company holding exploration and near term development licences in Morocco, announced earlier this week that it has completed its 2D seismic program on the operated Sidi Moktar Licence, near Marrakesh, onshore Morocco. The program was completed according to the scheduled deadlines and budget, the company […]
A Turkish company will invest $700 million in an Iraqi steel plant to upgrade its production capacity to 1 million tons per year. Under the 18-year deal with the Iraqi ministry of Industry and Minerals, the Turkish company will rehabilitate and develop the iron and steel plant located in the Khor Al-Zubair, in Basra, that […]
Libya has called on Saudi economic operators and financiers to invest in the North African country mainly in the oil and gas industry sector. The call was launched by visiting Libyan oil and gas minister, Abdulbari Ali Al-Arousi, at a meeting with executives of the Saudi Eastern Chamber of Commerce and Industry. The Libyan official […]
Following the hostage situation in Algeria, analysts fear that oil and gas future investments are dominated by uncertainty due to fears that investors will be unwilling to venture into its Sahara desert. Some believe that investments won’t be affected because the resources will be too tempting for companies to ignore. Alison Lyall, a security analyst […]