July 1, 2015
The investments of the energy sector reached DZD327 billion ($3.6 billion) in the first quarter of 2015, an increase of 19% compared with the same period a year earlier, Energy Ministry told APS.
The investments increased despite the drop in oil revenues, as a result of the fall in oil prices.
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July 1, 2015
Iran's Energy Minister Hamid Chitchian in a meeting with Algerian President Abdelaziz Bouteflika invited the energy-rich North African country to attend the 3rd Gas Exporting Countries Forum (GECF) Summit, due to be held in Tehran in November.
The Iranian minister met Algeria’s president in Algiers on Monday and extended the invitation to the summit, sent by Iranian President Hassan Rouhani.
"...Continue Reading >
June 24, 2015
German utility E.ON wants to sell its North Sea and Algerian oil and gas assets, hoping to raise around $2 billion as it restructures, several banking sources said.
The move adds to the rising number of North Sea assets on the market as a result of lower oil prices, but with few deals being concluded.
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June 24, 2015
France, Spain and Portugal will seal an elusive political agreement early next week that is intended to increase exports of Algerian gas into Europe and further challenge Russia’s market dominance.
The deal has been billed as a resolution to a long-running impasse around one of the EU’s most intractable ...Continue Reading >
June 23, 2015
PanAtlantic Exploration is pleased to announce results from the short term test of Turpiales-3 horizontal well. The completion in the lower Real sand flowed at a maximum sustained rate of over 700 barrels of 16 degree API oil per day with a 2% BSW average. President and CEO Dr. Robert Erlich commented, “While we are pleased with the flow rates from the test, we continue to evaluate the best commercial solution for long term production.” The 450 square kilometer Turpial block is in the prolific Middle Magdalena"...Continue Reading >
June 18, 2015
SD-Centre, a subsidiary of Algerian state-owned electric and gas utility Societe Nationale de l’Electricite et du Gaz (Sonelgaz), has completed construction on a 3 MW PV plant in Djanet, southern Algeria.
According to local news portal Portail Algerien des Energies Renouvelables, the project is part of the country’s renewable energy plan, which aims to install 13.5 GW of PV capacity by 2020. In February, the Algerian Cabinet approved a renewable energy plan for the period spanning 2011 to 2030.
The plan, which has been revised since being"...
June 13, 2015
According to the project, which is still going at the government level, the state's support for the fuel will include the quantity that will be specified every month, and the price will doubled dramatically. Informed sources revealed that the government is planning to introduce the project next year, and this after providing the necessary means for its application, which are the card of filling fuel, which Echorouk already referred to last week. This smart card will be delivered for each gray card holder, according to Echorouk sources. It is known that the removal of subsidies on fuel or reducing...Continue Reading >
June 11, 2015
Revenues from oil taxes have significantly declined in the first quarter of 2015, while the ordinary taxation increased, the Directorate General of Taxes (DGI) told APS on Wednesday.
The recoveries of the ordinary taxation paid to the State Budget amounted to DZD566.1 billion (DA billion) during the first three months of the year, against DZD512.1 billion in the same"...Continue Reading >
June 10, 2015
In the aftermath of the 2014 Ukraine crisis the European Union (EU) revitalised its quest for security of natural gas supply. The double aim was to diversify its market away from a perceived over-reliance on Russian natural gas supplies and to make it more resilient to potential supply disruptions. Pushing ahead with this plan, the EU commissioner for climate action and energy Miguel Arias Cañete visited Algiers on 5 May 2015 to launch together with the minister for energy and mines of Algeria Yousef Yousfia new high-level"...Continue Reading >
June 10, 2015
Algeria's oil production is 1.12 million barrels per day, a level just under the average output for the last few years for the North African OPEC producer, an industry source said.
Algeria, a key supplier of Europe's gas needs, expects to boost projects at its large gas field Hassi R'mel, bringing output to 75-76 billion cubic meters (bcm) a year for the next ten years,"...Continue Reading >
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