Oil and gas

January 21, 2017

1

Solar power stations: Conditions of call for tenders adopted by government

A decree determining the conditions of national and international call for tenders for the generation and supply of 4,000 megawatts of electricity from solar energy was adopted by the Council of government, announced Thursday in Algiers Minister of Industry and Mining Abdesselam Bouchouareb.

“The council of government adopted yesterday (Wednesday) a decree relating to the conditions relating to the call for tenders which will be launched"...

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January 21, 2017

2

Next 20 years, an era of real development for energy

Algeria is determined to make the next 20 years an era of real development for sustainable energy, said the minister of Energy Noureddine Boutarfa.

“We have set ambitious and promising targets for renewable energy, and we are determined to make the newt 20years an era of real development for sustainable energy,” underlined Boutarfa in an interview to the Oxford Business Group published in its 2016 report on Algeria.

The"...

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January 19, 2017

3

UK to Support Energy Project in Largest FDI in Ghana

The UK government will support a major energy project in Ghana through the UK Export Finance (UKEF).

The Offshore Cape Three Points Project (OCTP) will involve the development of oil and gas fields about 60 km offshore from the western side of Ghana’s coast.

The gas reserves expected to generate an additional 1,100MW of power for Ghana will alleviate the country’s reliance on energy imports, providing long-term energy security and supporting"...

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January 12, 2017

4

Tullow Sells Stake in Oil Fields to Total Uganda for $900m

Tullow Oil plc has agreed to transfer 21.57 per cent of its 33.3 per cent stake in three oil exploration sites in Uganda to Total Uganda for $900 million.

“The deal will secure future cash flow for the Group from one of the industry’s few truly low cost development projects without any additional cash requirements expected. We will work closely with the Government of Uganda, its associated agencies and with Total and CNOOC to move this"...

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January 11, 2017

5

Algeria-EU: Need for concrete energy cooperation projects underlined

Minister of Energy Noureddine Boutarfa held discussions Monday with the head of the European Union delegation to Algiers, John O'Rourke,

During the discussions, the minister stressed the need to identify "concrete energy cooperation projects, particularly in the field of renewable energies."

Boutarfa also underlined "Algeria's efforts to meet the growing domestic demand"...

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January 11, 2017

6

Boutarfa to partake at 1st Global Energy Forum in Abu Dhabi

Minister of Energy Noureddine Boutarfa will participate in the first Global Energy Forum, which will be held on Thursday and Friday in Abu Dhabi, the United Arab Emirates, said Tuesday the Ministry in a statement.

Devoted to the geopolitics and geo-economics of the energy transformation, the Forum will focus on the energy market trends in the current geopolitical situation," said the statement.

"...

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January 10, 2017

7

Rosneft Seeks To Pull Out Of Its Only Project In Algeria

Rosneft may soon withdraw from its only project in Algeria, an exploration project which Russia’s oil giant considers to have doubtful prospects, Russian business daily Kommersant reported on Monday, quoting several sources.

A joint venture between Rosneft and Russian oilfield engineering company Stroytransgaz holds 60"...

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January 4, 2017

8

Sharp increase in number of oil firms going bust in 2016

LONDON, U.K - According to experts, low oil prices are resulting in more oil companies going bust, driving insolvencies in the U.K. oil and gas sector to a five-year high last year.

Accountancy firm Moore Stephens noted that there was an eightfold increase in the number of companies that collapsed last year, from two in 2015 to 16 in 2016.

In 2014, six companies folded, against"...

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January 4, 2017

9

Kerui Petroleum Tops “50 Best Chinese Enterprises 2016 in Petroleum & Petrochemical Equipment Manufacturing Industry”

Kerui Petroleum, a fast-growing global energy equipment and services provider, is pleased to announce that the company was ranked the first on the list of “50 Best Chinese Enterprises 2016 in Petroleum & Petrochemical Equipment Manufacturing Industry” which was unveiled on November 2, 2016 by China Petroleum and Petrochemical Equipment Industry Association (CPEIA) on the sidelines of 2016 China Unconventional Oil & Gas Conference held in China’s southwestern city - Chengdu. Kerui’s two pioneering products"...

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January 3, 2017

10

Algeria raises fuel price and VAT in the early hours of New Year's Day

The government issued the Financial Act 2017 in the Official Journal, imposing taxes raise starting from January 1st. Fuel and buildings conformity certificates price increased. Some provisions will not enter in force until relating legal texts are promulgated. The government is expected to gain 110 billion centimes after revising VAT.

The VAT was increased to 19 percent from 17 percent. A tax of 5 percent is stipulated in the Financial Act 2017 on sold buildings. Conformity certificate prices also went up from 1,000"...

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