November 26, 2014
The Organization of Petroleum Exporting Countries (OPEC) will act, next Thursday in Vienna (Italy), “in a way to have a consensus approach” that can generate stable solutions to the fall in oil price, said Tuesday in Algiers Minister of Energy Youcef Yousfi.
“This approach is necessary to generate stable solutions,” said the minister in a reply"...Continue Reading >
November 26, 2014
The National Company for Petroleum Products Marketing and Distribution (NAFTAL) commissioned Tuesday in Rouiba (east of Algiers), the first station of Compressed Natural Gas (CNG), in the presence of Energy Minister, Youcef Yousfi.
CNG, which a similar gas to LPG-Fuel (liquefied petroleum gas fuel) will mainly be used in a first stage, by heavy vehicles such as buses"...Continue Reading >
November 24, 2014
North Africa Oil and Gas Summit will be held in Algiers from 7 to 9 December, bringing together leaders of Algerian and international oil market, announced Sunday the organizers in a communiqué.
Algeria, as Africa's largest gas producer and world's 10th gas producer, has invited over 450 North African experts from different national and international oil and"...Continue Reading >
November 22, 2014
The contract to supply Turkey with Algerian Liquefied Natural Gas (LNG) was extended for ten more years under an agreement signed Wednesday in Algiers by Energy Ministry Youcef Yousfi and his Turkish counterpart Taner Yildiz.
The LNG supply contract signed between Algeria and Turkey 20 years ago was extended to ten more years with increased volume by 50%, Yousfi told"...Continue Reading >
November 20, 2014
Turkey's President Recep Tayyip Erdogan hailed the new natural gas deal between Turkey and Algeria on Nov.19, Anadolu Agency reported.
In an official visit to Algeria’s capital Algiers, Erdogan praised the agreement between the national hydrocarbon company of Algeria and the Turkish state-owned oil and natural gas pipeline company"...Continue Reading >
November 19, 2014
Leading power and automation technology company, ABB Ltd. (ABB - Analyst Report), recently received multiple contracts from Italy-based power generation plants and related services provider – Ansaldo Energia. The news, coming on Nov 13, did not provide much impetus to the company’s shares which remained flattish.
Per the first contract, ABB is required to provide a plant automation system and substation expansion for the latest gas-fired power plant in the Batna, Algeria – Ain Djasser III. The plant is operated by the leading"......Continue Reading >
November 18, 2014
Algeria's oil and gas exports in the first half of this year fell 1.09% year on year to 50.59 million mt oil equivalent (2.06 million boe/d) from 51.11 million mtoe, the country's central bank said Monday.
The Bank of Algeria said crude exports for the period fell 3,528 mt year on year, while refined oil product exports rose 2,937 mt over January-June.
Meanwhile, a 2,631 mtoe (573,000 Mcf/day) decline in exports of pipeline gas were offset only partially by a 1,837 mt (490,000 Mcf/d gas equivalent) increase in LNG exports.
The total value of Algeria's hydrocarbon exports in...
November 13, 2014
Monthly average of the Algerian oil prices declined during the month of last October by more than nine dollars to reach $ 87.61 a barrel, as revealed by the Organization of Petroleum Exporting Countries "OPEC" on Wednesday, in its monthly report.
OPEC Data revealed - as quoted by APS- that the rate of Algerian crude oil prices moved from $ 97.10 per barrel"...Continue Reading >
November 13, 2014
"Venezuela and Algeria have an enhanced cooperation in the oil field,” visiting Venezuelan Minister of Foreign Affairs Rafael Ramirez told the press at the end of his meeting with President Abdelaziz Bouteflika.
"We have discussed about the international oil market and reaffirmed our position to defend the oil price," Ramirez said while pointing out the "convergence"...Continue Reading >
November 12, 2014
Algeria's In Amenas gas plant will most likely return to full capacity early next year, country’s Energy Minister Youcef Yousfi said on Tuesday, reported news agency Reuters.
The plant's capacity at 9 billion cubic metres accounted for about 11.5 percent of Algeria's natural gas output before the 2013 militant attack. The facility was attacked by al-Qaeda-linked terrorists in January last year and 800 people were taken hostage while 40 employees were killed.
In"......Continue Reading >
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