May 3, 2016
Nigeria plans to begin exploratory drilling in search of oil in the northeastern Chad Basin region by October, the head of the state oil company has said.
Emmanuel Ibe Kachikwu, who last year said Africa's biggest crude exporter may be on the verge of a significant oil find in the Lake Chad area, said in a statement on Sunday that seismic studies were ongoing.
"Drilling"...Continue Reading >
May 3, 2016
Schlumberger Limited (NYSE:SLB) will hold a conference call on July 22, 2016 to discuss results for the second quarter ending June 30, 2016.
The conference call is scheduled to begin at 7:00 am (US Central time), 8:00 am (US Eastern time) and 1:00 pm (London time). Until further notice, Schlumberger quarterly earnings calls will occur at this time. A press release regarding"...Continue Reading >
May 1, 2016
Exxon Mobil Corp beat analyst estimates as a jump in earnings from its chemicals segment cushioned the blow from tumbling prices for oil and natural gas.
First-quarter net income fell to $1.81 billion, or 43 cents a share, from $4.94 billion, or $1.17, a year earlier, Exxon said in a statement. The quarterly profit was the lowest since March of 1999, before Exxon merged with Mobil Corp. Still, the per-share result was 15 cents above the 28-cent average of 19 analyst estimates tracked by Bloomberg.
The company was boosted by a 38"...
April 27, 2016
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April 26, 2016
ORAN- More than 700 participants will take part in the next International Oil, Gas and Petrochemistry Exhibition which will be held at Oran’s Convention Centre from 23 to 25 May, said Monday the event’s organizers.
Organized by the agency “Symbiosis environment communication,” this exhibition will be an opportunity for the professionals to discuss the energy sector’s current situation in view of the drop in oil prices,"...Continue Reading >
April 25, 2016
Algeria’s overall economic growth reached 3.9% in 2015 against 3.8% in 2014, mainly made from agriculture and a recovery in the sector of hydrocarbons, the National Office of Statistics (ONS) told APS.
It has been noted that the achieved GDP (Gross Domestic Product) has slightly exceeded the forecasts of the complementary finance law 2015 which banked on a 3.8%"...Continue Reading >
April 23, 2016
More than a century after the light bulb was invented most of the African continent is still in the dark after nightfall. School children often cannot read after dusk, businesses cannot grow, clinics cannot refrigerate medicine or vaccines and industries are idled, hampering economic growth, jobs, and livelihoods. Today some 25 countries in sub-Saharan Africa are facing a crisis evidenced by rolling blackouts. Although the African continent is well endowed both with fossil fuels and renewable resources, these are not evenly distributed, creating windfall profits for some countries and exacerbating...Continue Reading >
April 22, 2016
Cyviz, a global leader in high-performance meeting room, data visualization, collaboration, and command & control systems, announced that it has opened a Cyviz Experience Center (CEC) in Riyadh, Saudi Arabia. The Riyadh CEC contains the latest state-of-the-art technology in visual collaboration from Cyviz. The new office is part of the company’s global expansion, and joins the existing CECs located in Beijing, Dubai, Houston, Singapore, Stavanger, and Washington DC.
...Continue Reading >
April 20, 2016
South Africa’s rand weakened against the dollar on Wednesday, in line with a pullback in commodity currencies as the global oil price fell one more.
The rand fell to 14.3750 versus the dollar earlier in the session, and was trading at 14.3015 by 0656 GMT, 0.2 percent lower than Tuesday’s New York close.
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April 19, 2016
The sharp decline in oil prices over the last two years has generated a heavy economic shock on oil-exporting nations, especially those whose GDP and exports are dominated by oil. Algeria, as the IMF reports, is no exception. The country is reeling from the fossil fuel price drop, as its sluggish economy remains heavily dependent on hydrocarbons.
Analysts"...Continue Reading >
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