Oil and gas

August 31, 2015


Algeria to cut spending by 9 pct next year over oil price slump

Algeria's government said on Saturday it will cut spending by 9 percent next year due to the drastic fall in global oil prices as the OPEC petroleum and gas producer tries to counter the drop in energy revenues that account for 60 percent of its budget.

Algeria still has more than $150 billion in foreign reserves and little foreign debt, but it relies heavily on its oil and gas revenues for a vast welfare programme for everything from housing to subsidised electricity, food and fuel that have helped ease social tensions in the past.


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August 26, 2015


Report: Algeria to suffer from drop in gas prices

Algeria will feel the effects of the global fall in gas prices in the next eight months, an Algerian economic report warned.

Algeria depends on gas to provide more than 40 per cent of its total fuel revenues and prices have dropped by almost half recently.

Algeria’s El-Khabar newspaper said the US secretary of energy warned that gas prices are not expected to rise this year and Algeria is expected to suffer even more after the United States announcement that it will resume exporting liquefied natural"......

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August 19, 2015


Algeria says crude, natural gas exports down in 2014

Algeria's crude oil and natural gas exports dropped sharply in 2014 after the ninth straight annual decline in its domestic energy production, according to the state statistics office data on Tuesday.

A major gas supplier to Europe, Algeria has struggled to keep up production because of declining output at more mature oilfields and a lack of foreign investment in developing new prospects.


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August 18, 2015


Algeria Calls for Non-OPEC Output Cut to Stop Oil Price Fall

The Organization of Petroleum Exporting Countries can do little to halt the oil price decline on its own and needs producers from outside the group to help in reducing global supplies, Algeria’s Energy Minister said.

“A supply reduction by OPEC alone cannot really guarantee a return to oil market stability,” Salah Khebri said at an event in Algiers, according"...

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August 10, 2015


Algeria says talks ongoing over possible OPEC emergency meet -APS

Algerian Energy Minister Salah Khebri said that discussions about potentially holding an emergency OPEC meeting to discuss the drop in oil price were ongoing, state news agency APS reported on Monday.

"Consultations are ongoing to take a decision," APS cited Khebri as saying, when asked about a possible OPEC extraordinary meeting. He did not give further details.


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August 3, 2015


Several proposals to boost non-hydrocarbon exports

The Business Leaders Forum (FCE) called for several measures aimed to develop the non-hydrocarbon exports, to engage the country in the diversification of its foreign financial receipts and the integration process in the global market.

In an advocacy called “Algeria’s economic emergence plan,” submitted last week to Prime Minister Abdelmalek Sellal,"...

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