Oil and gas

July 26, 2016

1

Nigerian oil executive to lead OPEC

The oil cartel appoints Mohammed Sanussi Barkindo to a three-year term as secretary-general beginning Aug. 1.


A Nigerian oil executive who helped develop key global climate change initiatives is the new-secretary general of OPEC.


The Organization of Petroleum Exporting Countries named Mohammed Sanussi Barkindo to a three-year term as secretary-general beginning Aug. 1. Barkindo replaces Abdallah Salem e-Bardri of Libya in the cartel’s top job.


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July 26, 2016

2

Algeria: 40 per cent cut in number of foreign workers at in Salah Gas

The head of In Salah Gas announced Saturday a cut by 40 per cent in the number of foreign workers by the end of the year as a measure to shore up collapse of oil price and to reduce costs, reports say.

In Salah Gas is a joint venture between national Sonatrach, British Petrolium (BP) and Norwegian Statoil.


The decision, according to the company’s managing director,"...

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July 24, 2016

3

Engie to sell its gas exploration Unit in Algeria

French utility company, Engie SA, wants to sell its gas exploration units in Algeria as part of a larger plan to offer its assets in Africa and Europe in a bid to reduce its exposure to volatile oil and gas prices, Bloomberg reported.

“The company is planning to sell its upstream operations globally including businesses in the U.K., Norway, Algeria, Egypt, Germany and Asia,” the news agency quoted Engie employees who requested anonymity.


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July 24, 2016

4

Boutarfa, US Deputy Secretary of State discuss energy partnership

Energy Minister Noureddine Boutarfa and US Deputy Secretary of State Tony Blinken on Saturday in Algiers discussed the partnership in the field of energy, said a ministry statement.


"The talks between the two parties focused on the relations of cooperation and partnership between Algeria and the United States in the field of hydrocarbons and energy," the ministry said.

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July 19, 2016

5

Partnership has significant importance for energy sector growth

Partnership has significant importance in the growth of energy sector, Minister Nouredine Bouterfa affirmed Monday in Hassi-Messaoud (Ouargla 800 south-east of Algiers).


During a working and inspection visit, the Minister highlighted the crucial role of foreign partnership in the energy sector, particularly in the development and exploitation of deposits at oil"...

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July 18, 2016

6

Oil shock: Algeria has capacity to conduct smooth economic transition

Algeria has the capacity to conduct a smooth economic transition but it should accelerate its economic diversification through reforms, said senior officials of the International Monetrary Fund (IMF) in an interview with APS.


"Algeria is facing a major economic crisis owing to the falling oil prices for over two years, and which is likely to continue. But when the oil"...

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July 18, 2016

7

Samsung Bioepis' Marketing Authorization Application for SB5 Adalimumab Biosimilar Candidate Accepted for Review by the European Medicines Agency

  • If approved, SB5, a biosimilar candidate referencing Humira® (adalimumab), will be Samsung Bioepis’ third anti-TNF-α biosimilar in Europe
  • The Marketing Authorization Application for SB5 was based on a 52-week Phase III study which showed SB5’s comparable efficacy and safety to Humira® among different treatment groups, including those who switched from Humira® to SB5

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July 17, 2016

8

Dim Prospects for Algeria’s Gas Exports

Algeria’s gas production and export capacity is facing dim prospects with estimates the North African country to be a net gas importer of Liquefied Natural Gas (LNG) in two decades, warned the former Algerian energy minister Nordine Ait-Laoussine.

Ait-Laoussine, who was speaking to Interfax Natural Gas Daily, said that politics and bureaucracy are contributing to the demise of the energy sector by crippling Algeria’s potential to attract investments.


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July 16, 2016

9

ExxonMobil declares force majeure on Nigeria's Qua Iboe crude oil

ExxonMobil subsidiary Mobil Producing Nigeria has declared force majeure on exports of Nigeria's Qua Iboe crude oil, the country's largest export stream, a spokesman said on Friday.

The declaration came after the company observed a "system anomaly" during a routine check of its loading facility on July 14. "We are working to ensure loading activities at the facility return to normal. We cannot speculate on any timeline for repairs," the spokesman said. "Qua Iboe Terminal is operating and production activities continue."

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July 14, 2016

10

Statoil, BP Remain Committed to Algeria Despite Violence

Statoil ASA and BP plc say they will remain in Algeria despite militant attacks on their joint oil and gas operations in the country over the last few years, following the implementation of improved safety measures.


“Algeria has been an important country for Statoil in many years, and we have a long term perspective in the country,” Knut Rostad, Statoil’s"...

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