First Independent Mena Newspaper
As Oil prices continue falling, hitting their lowest level in five years, Algeria launched an SOS calling the Organization of Petroleum Exporting Countries (OPEC) to lower production and restore the oil market balance. “OPEC needs to intervene to lower production and thus remedy the unbalances of the market,” Algerian energy Minister Youcef Yousfi was quoted […]
As the stand-off in Libya between the two governments continues, Prime Minister Abdullah al-Thinni of the internationally recognized Tobruk government is planning to approach it with a financial perspective. He wants to stop the payment of oil exportations to accounts that are not under its control in order to drain the financial power of the […]
Finance Minister Mohammed Jallab has told Algerians that there is no need for alarm despite the low prices of oil and gas. He said the country is capable of handling such shocks. Algeria is a country that heavily relies on gas exportation. OPEC has decided not to cut its production in order to increase global […]
Notwithstanding passionate discourses against Western responsibility and “Zionist conspiracy”, commitment to the Palestinian cause has not translated into any support. “Israel is an abnormal case in the history of humankind and the geopolitical map of the world.” These words, uttered by Mr. Imad Nabil Jadaa, Ambassador of Palestine in Chile on August 14, are […]
Bilateral energy talks between Algeria and Tanzania have reached advanced stages. The two governments are involved in discussions regarding three different energy projects with reference to their electricity, natural gas and petroleum potentials. Tanzania’s Minster of energy and Minerals, Prof. Sospeter Muhongo, met with his Algerian homologue, Energy Minister Youcef Yousfi, in Algiers to further […]
Libya is drafting a law aimed at making its oil industry more attractive to foreign investors. Most of the investors left the North African country when the war got intense between Gadhafi’s army and the rebels. Libya has one of the largest oil reserves in the world but political tensions have made it a high […]
The Organization of Petroleum Exporting Countries (OPEC) plans to gather more products from three member countries but is yet to give any exact mean to gather these productions. They are Iraq, Iran and Libya. The organization has drawn plans to meet on June 11 at Vienna to analyze the incumbent 30 million barrels of production […]
The production of oil in the leading oil production country in Africa has suffered a drastic decline since its civil war in 2011. The ongoing protest in Libya has led to the closure of two export terminals and an entire oil field. Frequent disruptions in the MENA region has led to North America leading the […]
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 […]
The 10th conference of the Organization of Arab Petroleum Exporting Countries (OAPEC) will be held Libya in 2014 to discuss several issues related to world oil market, the challenges facing Arab crude producing countries and ways to support Libya’s post-revolution development and reconstruction. The conference, to look also into sustainable development of energy sources throughout […]