Oil and gas

June 28, 2016


Sonatrach: National hydrocarbon output expected to rise again in 2016

Group Sonatrach hydrocarbons output is expected to once again increase in 2016 after years of decline, CEO Amine Mazouzi said in Algiers.

"The period of stagnation is behind us," Mazouzi, accompanied by his aides told a news conference dedicated to the presentation of the balance sheet of Sonatrach.


Continue Reading >

June 28, 2016


Mustapha Guitouni installed as Sonelgaz’ CEO

Mustapha Guitouni has been installed Monday as the new CEO of Sonelgaz group, replacing Noureddine Bouterfa, who has been appointed Minister of Energy following the recent partial cabinet reshuffle.

In his speech in the installation ceremony, Bouterfa considered that the challenges facing the new CEO are “big,” underlining that Guitouni “will be equal"...

Continue Reading >

June 27, 2016


Sonatrach: 10% hike in hydrocarbon exports expected in 2016

ALGIERS-Sonatrach Group banks on a hike in its hydrocarbon exports to 108 million ton oil equivalent (TOE) in 2016 against 98.1 million TOE in 2015, i.e. an increase by 10%, CEO of the Group Amine Mazouzi announced Sunday.

Speaking at a press conference in which he presented the results achieved by Sonatrach and its perspectives, Mazouzi affirmed that results recorded in the five months of 2016 "are perfectly in line with the ambitious goals set"...

Continue Reading >

June 23, 2016


Oil rises slightly as markets awaits result of Brexit vote

Oil prices were up slightly on Thursday, shrugging off a smaller-than-expected decline in U.S. stockpiles, as the market nervously awaited the result of Britain's "Brexit" vote.

Trading has been choppy in the run up to Thursday's vote on whether Britain leaves or stays in the European Union (EU), although markets appear to have largely priced in a "Remain" vote.


Continue Reading >

June 23, 2016


Eni gains new contracts in Algeria

Executive Director of Italy’s Eni Claudio Descalzi has paid a secret visit to Algeria for the fourth time. Public authorities did not reveal details about it although a meeting was held between the Italian official, the Algerian energy minister Noureddine Bouterfa and Sonatrach’s CEO Amine Maazouzi. Contracts were signed in favour of Eni.

Eni said in a release that the Algerian energy minister Nourredine Bouterfa and Sonatrach’s CEO met on June 21st with Eni’s Executive Director Claudio Descalzi."...

Continue Reading >

June 22, 2016


World Bank program puts Zambia on path to solar energy

With an assist from the World Bank, Zambia will build two solar power projects that will provide the cheapest electricity on the continent.

First Solar Inc., the largest panel producer in the United States, along with the French company Neoen, together will build a 45-megawatt plant that will produce electricity that will sell for just over six cents per kilowatt-hour. Enel, an Italian"...

Continue Reading >

June 20, 2016


Linde Gas Turkey Chooses Mix Telematics for Increasing Safety

Linde Gas Turkey, part of the Linde Group, a leading global industrial gas and engineering company, has invested in a MiX Telematics fleet management solution in order to increase the road safety of their heavy vehicles along with enhancing positive driver behaviour. Turker JMT, a MiX Telematics partner in Turkey, will implement the fleet management solution into 129 of Linde’s"...

Continue Reading >

June 19, 2016


Nigeria's Lekoil makes use of weak naira to fund oil field expansion

Nigerian oil explorer Lekoil has converted around half of its investment budget into naira from U.S. dollars, benefiting from the Nigerian currency's weakness to fund an oil field expansion despite growing militant disruptions.

Africa's biggest economy and its currency have been hit hard by a decline in oil prices. After a steep slide in the naira in late 2014 and early 2015, the central bank pegged the currency to the U.S. dollar.

But on Wednesday it"...

Continue Reading >

June 16, 2016


Energy: Over USD14 bn in FDI over 2010-2015

ALGIERS- Foreign direct investment (FDI) in Algeria's energy sector has reached USD14.01 billion between 2010 and 2015, that is, an annual average of USD2.3 billion, the ministry of Energy has said.

In 2015, the FDI in energy sector stood at USD2.3 billion, up 45% compared with 2014, the ministry underlined in the latest issue of Algerie Energie magazine.

More than 99%"...

Continue Reading >

June 16, 2016


'NANO KOREA 2016', Largest NANO Technology Exhibition in Korea, from July 13th

  • Marking its 14th event, 350 companies from 15 countries will showcase new technologies and applications
  • 6 concurrent exhibitions of state-of-the-art technologies, including advanced ceramics, high-function materials and smart sensors, will be jointly held

NANO KOREA 2016, the largest exhibition of advanced NANO technology and business, will be held from July 13th to 15th at ......

Continue Reading >

Forex Market Video