First Independent Mena Newspaper
A court in Lebanon has ordered the arrest of 17 people, including the Chief of Sonatrach Petroleum (SPC), a subsidiary of Algeria’s state-run oil company, on corruption and supply of adulterated fuel charges. Judge Ghada Aoun, prosecutor at Mont-Liban court of appeal, ordered the arrest after state-run Electricity of Lebanon (EDL) lodged early this month […]
Gas and oil giant Sonatrach has signed a Memorandum of Understanding (MoU) with US Exxon to identify exploration opportunity in the North African country and to boost partnership between the two companies. Sonatrach made the announcement Monday on its website arguing that the agreement confirms the renewed dynamism of the Algerian mining sector, as part […]
Kamel Eddine Chikhi, Chief of state-owned energy firm Sonatrach, was sacked Wednesday only three months into the job. A presidential decree, relayed by state-run television ENTV, said Toufik Hakkar will take the helm of the energy company, which witnessed a cut into revenues last year and is in search of investors. Hakkar was […]
Algeria’s gas and oil company, Sonatrach, announced Sunday that Iranian authorities had freed its oil tanker one hour 15 minutes after it was forced Friday to enter Iranian territorial waters. The tanker, MESDAR, of 2,000,000-capacity, sailing in the Strait of Hormuz was asked by Iranian coastguard to enter territorial waters, on Friday. Sonatrach in a […]
Algeria’s gas giant Sonatrach will continue supplying Italian natural gas distributor, ENEL Group, for additional 10 years under an agreement between the two sides signed on Wednesday. The deal cements tight cooperation between the state-run gas company and the Rome-based multinational. The partnership dates back to 1991. The new deal will end in 2028, Sonatrach […]
The limbo in Algerian politics is throwing its weight on the oil and gas industry in the country, which represents 95% of the North African country’s revenues. After reports of strikes in some oil and gas field, ExxonMobile halted talks with Algeria’s hydrocarbon giant Sonatrach as protests continue to simmer across the country, Reuters reported. […]
Algeria’s state-owned oil and gas company will launch offshore drilling with France’s Total and Italy’s ENI on the eastern coast between Bejaia and Skikda for the first time in its history. According to Sonatrach’s Director for New Resources, Youcef Khankar, the campaign will begin in the second half of the year, with 2D and 3D […]
India-based conglomerate Larsen & Toubro has signed an agreement with Algerian state-owned Sonatrach to develop three new gas treatment and compression plants on pre-existing gas fields in the North African nation. The agreement comprises detailed engineering studies, supply management of materials for the construction, trials and commissioning, training of personnel and operational assistance. The plant […]
One in four Algerians remain unemployed in an economy undermined by over dependence on oil and gas revenues and bleak political prospects. Official data speak of an unemployment rate of 11.1% in March of 2018 but economists consider the scale of joblessness to be higher than that. Among the youth aged under 36, the unemployment […]
State-owned oil and gas company Sonatrach, the backbone of Algeria’s economy, is reeling under an acute brain drain as its recent discoveries fail to offset the decades long depletion of the country’s hydrocarbon resources. The company has lost 16,000 of its brilliant minds in the last eight years deplored Sonatrach officials in statements to Algerian […]