Oil and gas

September 20, 2017


Sonatrach plans to change its way of working

Sonatrach’s CEO Abdelmoumene Ould Keddour announced that the energy group prepares a new strategy by 2030

We launched a project that includes Sonatrach’s strategy for 15 years. It will determine how the group will be in the future, how it will arrive to that and what are the means to do so,” Ould Keddour told reporters on his working visit to a gas plant in Ouargula.


Continue Reading >

September 19, 2017


Equatorial Guinea to Supply Gas, Explore Production in Burkina Faso

As one of Africa’s biggest liquefied natural gas (LNG) producers, exporting 3.4 million tonnes of LNG to destinations worldwide annually, Equatorial Guinea has signed a memorandum of understanding (MoU) to supply Burkina Faso with LNG.

“We are very pleased to strike this agreement and be given the opportunity to supply our African brothers in Burkina Faso with crucial gas resources,” Gabriel Mbaga Obiang Lima, Minister of Mines"...

Continue Reading >

September 19, 2017


Med gasoil/ultra low sulfur diesel spread narrows on renewed 0.1% buying interest from Algeria

Pricing differentials for gasoil in the CIF Mediterranean cargo market surged amid renewed buying interest from Algeria for spot deliveries across September, narrowing the spread to the equivalent ultra low sulfur diesel (ULSD) benchmark.

CIF Mediterranean 0.1% sulfur gasoil cargo differentials rose sharply to a $8.75/mt discount to low sulfur gasoil futures Friday, up $3.25/mt on the day and a two-month high.

This spike also brought the spread to 10 ppm diesel in the Mediterranean to the narrowest"...

Continue Reading >

September 18, 2017


Synetics: Oil and Gas Surveillance Specialist Wins Multiple Middle East Contracts

(AETOS Wire)-- Surveillance solutions business Synectics has secured multiple contracts for onshore and offshore oil and gas developments, spanning Egypt, Saudi Arabia, the UAE and Iran. Encompassing a broad mix of Synectics’ surveillance and security management solutions, the contracts will see the business deploy over 700 COEX™ camera stations across the Middle East region – in a number of cases incorporating new, customer-led feature developments. Off the Egyptian coast, Synectics will be providing an offshore platform with a range of C3000 HD IP, C2000 HD IP and C2000 (PTZ and fixed) camera stations, with specific models featuring new onboard analytics capabilities developed to meet the customer brief. The COEX camera stations, compatible with the on-site VMS, will enable edge-based tripwire detection, negating the need for separate analytics integration. Darren Alder,......

Continue Reading >

September 17, 2017


Good News For Ouyahia's Government As Oil Price Nears $ 56

Oil price maintains, on Saturday, for the third day in a row, its increase, and stays above the threshold of $ 55 a barrel, as it reached, before closing the deals, $ 55.55 per barrel for the Brent, in the North Sea index on the London Stock Exchange, up + $ 0.11, 0.20% for November's delivery.

Oil price per barrel at the New York Exchange for U.S Brant of West Texas Intermediate (WTI) reached $ 49.95 per barrel, up by $ 0.06.


Continue Reading >

September 17, 2017


Kuwait Oil Company Awards Major Contract to Grandweld Shipyards

Grandweld Shipyards has secured a contract to design, Construct and deliver four crew boats and six pilot boats for Kuwait Oil Company. The contract was signed on May, 2017 by Mr. Ismail Abdulla, Deputy Chief Executive Officer of Kuwait Oil Company, and Mr. Jamal Abki, General Manager of Grandweld Shipyards.

The 25meter long Aluminum fast crew boats, with a deck area of 40 square meters will be propelled"...

Continue Reading >

September 13, 2017


Algeria: Three Conditions... Before Renewing With Shale Gas Exploration

Energy experts require the availability of three factors before the return of exploration for shale gas in Algeria, so as to avert the adverse scenarios of chaos and controversy raised by such a burning file in 2015, especially in the southern region of ​​Ain Saleh.

These conditions are designed to initiate a large awareness campaign for the population before the announcement of the first step in this project, and acquisition of the necessary"...

Continue Reading >

September 9, 2017


Newmont Ranked Mining Industry Leader by Dow Jones Sustainability World Index for Third Consecutive Year

(AETOS Wire)-- For an unprecedented third year in a row, Newmont Mining Corporation (NYSE: NEM) was ranked by the Dow Jones Sustainability World Index (DJSI World) as the mining industry’s overall leader in sustainability. Newmont’s inclusion on the index also marked the 11th consecutive year the company has been selected for the DJSI World. This year, 942 companies participated in RobecoSAM’s Corporate Sustainability Assessment (CSA), which evaluates and ranks the highest-scoring companies on the DJSI – one of the most rigorous and highly regarded sustainability indices in the world. Newmont was the first gold company named to the index in 2007, and has been included on the DJSI North America Index every year since 2006. “This recognition reflects our team’s deep commitment to sustainability and continuous improvement, which translates into safe working conditions and good jobs for employees; sustainable economic development for our host communities; responsible environmental management; and strong returns and growth prospects for......

Continue Reading >

September 6, 2017


Nigeria Approves the Privatisation of Afam Power Plants in Rivers State

Nigeria’s National Council on Privatisation (NCP) has approved the privatisation of Afam Power plants 1 to 5 in Rivers state.

NCP chaired by the Vice President Yemi Osinbajo is the highest decision-making body on policies relating to the privatisation and commercialisation policies in the country.

According to a statement issued by the Vice Presidential Spokesman,"...

Continue Reading >

September 2, 2017


Algeria-Pakistan commercial relations

Pakistan's interest in importing Liquefied Natural Gas (LNG) from Algeria marks a welcome deepening of commercial relations between the two countries. Looking to the North African energy powerhouse not only addresses Pakistan's energy shortfall, Algerian oil and gas expertise could also help Pakistan in building up much needed energy self-reliance. Pakistan's planned construction of a new regasification terminal in Karachi will also most likely involve technical collaboration with Algeria.


Continue Reading >

Forex News Headline

Forex Market Video