First Independent Mena Newspaper
Algeria’s state-run energy producer, Sonatrach, will inject about $2 billion to maintain production on the country’s largest gas field, local media reported. This field produces between 190 and 210 million cubic meters of natural gas per day, about 60% of the North African nation’s total gas production. Sonatrach’s CEO, Abdelmoumen Ould Kaddour, said the goal […]
International think tanks and risk consultancies continue to draw bleak prospects for Algeria whose finances have been severely battered by low energy prices coupled with a decline in output and an increase in domestic consumption. In a detailed report, Statfor, a US firm specialising in geopolitical risk analysis, warns of the unravelling of Algeria as […]
Regime opacity and the secrecy shrouding the successor to ailing President Abdelaziz Bouteflika have been hampering Algeria from carrying out economic reforms to wean their economy from dependence on hydrocarbons, especially as the languishing oil prices at 50 dollars a barrel are set to last for years longer. International think tanks and independent media are […]
Algeria which has suffered a sharp decrease in oil revenues is seeking desperately to fill in its coffers with an Italian supply deal. The country’s state-owned Sonatrach and Italy’s energy company, Eni, inked a deal to supply Italy with 10 billion cubic meters of natural gas annually. The gas will be channeled through the Transmed […]
EU officials are looking to Algeria as a partner that can help Europe reduce dependency on Russian gas and better manage migration flows in the southern Mediterranean, but uncertainties at the helm of the Algerian regime represent a major obstacle, Politico writes in an article citing several EU officials well versed in Algerian affairs. The […]
An Italian judge ordered Italian oil major Eni, oil services group Saipem and former Eni CEO Paolo Scaroni to stand trial in a long-running case of alleged bribery in Algeria “In relation to court proceeding for the alleged bribery case relating to Saipem’s activities in Algeria, Eni acknowledges that the new GUP (judge for the […]
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 […]
British Oil Company BP and Norwegian Statoil announced Monday they would withdraw their staff from two Algerian gas plants after terrorists fired rockets at the third largest gas field of the country situated in the Sahara desert. The companies will withdraw their staff from the In Salah and In Amenas gas plants as security measures […]
An Algerian court on Tuesday handed prison sentences to six people, ranging from 18 month suspended sentence to 6 years in prison plus fines, in a corruption case involving the country’s state-run oil firm Sonatrach. Seven defendants were acquitted while four companies, including Italy’s Saipem and the German Funkwerk, were also sentenced to fines ranging […]
Algerian state-owned company “Sonatrach” is planning to invest at least $70 billion over the next 20 years for the exploitation of shale gas in the Saharan region. The plan was disclosed by the company’s managing director Said Sahnoun who hopes his country would be able to produce 20 billion cubic meters per year from 200 […]