April 29, 2015
Algeria's Sonatrach and Venezuela's PDVSA would target the US as a market for the two countries' potential new blend of crude oil, a source at the state-owned Algeria company said Monday, as the two state-controlled companies continue talks on forming a joint venture for blending and marketing their crudes.
The source said talks have been ongoing for several months between Algiers and Caracas on the venture.
The head of Sonatrach, Said Sahnoun, said in February the companies were working on the blending initiative,"...
April 23, 2015
Mexico highlighted Wednesday the importance of the Algerian initiative aiming at launching dialogue between OPEC member and non-member countries, in a view to regulating the market by reducing the output, said a joint communiqué released at the end of working visit to Algeria of Mexican Secretary for Foreign Relations Jose Antonio Meade Kuribrena.
"Speaking about"...Continue Reading >
April 21, 2015
Repsol has made a new onshore natural gas discovery in Algeria, the Spanish company announced on Monday.
The Tan Emellel Sud-Ouest-2 exploration well was drilled to a depth of 1,307 metres in the Illizi Basin, in southeastern Algeria. Well testing yielded a flow of 175,000 cubic metres (6.18 mcf) of gas and 90 barrels per day of condensate.
Repsol is the"......Continue Reading >
April 20, 2015
Oil prices are likely to stay low for a long time after falling more than 40 percent in the past year, said officials from two OPEC nations.
Nigeria and Algeria both warned that oil prices, currently at around $60 a barrel, probably won’t recover to the 2011-2013 level of more than $100 a barrel.
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April 20, 2015
Spanish oil company Repsol has found more gas in southeastern Algeria, a region made infamous by a 2013 attack on a gas complex by al-Qaida-linked militants.
Repsol's consortium, which included Enel, GDF-Suez and a 51 percent stake for Algerian state oil company Sonatrach, said Monday they found gas at 1,307 meters with a flow rate of 175 cubic meters per day in the southeast"...Continue Reading >
April 16, 2015
Enel SpA, Italy’s largest utility, is considering a sale of assets across Europe and Africa that may raise as much as 1 billion euros ($1.1 billion), people with knowledge of the matter said.
Enel is working with financial advisers on the possible sale of its upstream operations in Algeria, Egypt and Italy, two of the people said, asking not to be identified as the"...Continue Reading >
April 14, 2015
Oman's long-term crude oil output is fixed at around 950,000 barrels per day (bpd) as the Sultanate seeks to safeguard its production at a sustainable level to keep its oil flowing for as long as possible.
In his address to reporters at the annual press briefing yesterday, Salim Al Oufy, undersecretary at the Ministry of Oil and Gas, said oil production in 2014 rose marginally by 0.2 per cent to 943,000 barrels per day compared to a year earlier.
The average gas production dropped by 3.8 per cent in 2014 to 97.8 million cubic metres per day over the production in 2013.
April 9, 2015
Sonatrach’s former CEO Mohamed Meziane Wednesday told the judge of a court in Algiers a deal was sealed with Schlumberger upon political orders from the energy and foreign ministries to preserve oil well next to Libyan borders.
The trial in details
Meziane was the first suspect auditioned by Judge Abderrezak Bensalem.
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April 8, 2015
The African Petroleum Producers Association (APPA), which represents oil and gas producers from Algeria to South Africa, has called for a cut in oil output globally.
The group also includes the continent’s biggest producers, Nigeria and Angola. It is starting an initiative led by Angola and Algeria to seek collaboration among members of the Organisation of Petroleum"...Continue Reading >
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