Oil and gas

September 25, 2018


Oul Kaddour: “Algeria Has No Intention To Stop Gas Supply To Morocco”

Algeria has no intention of cutting off the supply of gas to the Kingdom of Morocco via the pipeline through its territory to Spain, Sonatrach General Manager, Abdelmoumen Ould Kaddour, said.

“Sonatrach is interested in continuing to supply Morocco with gas through this pipeline to increase export capacities”.

Speaking at a press conference that was held on"...

Continue Reading >

September 25, 2018


Eni, UNDP partner to promote sustainable energy and SDGs in Africa

Energy major Eni SpA and the United Nations Development Programme (UNDP) are joining forces to improve access to sustainable energy and help achieve the Sustainable Development Goals (SDGs) in Africa. The partnership is the first of its kind between UNDP and a global energy company.

The Memorandum of Understanding (MoU) was signed by Eni Chief Executive Officer Claudio Descalzi and UNDP Administrator Achim Steiner during an official ceremony hosted"...

Continue Reading >

September 24, 2018


NNPC records ₦17.16bn trading surplus, up 46%

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018.

NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations Report for April, 2018.


Continue Reading >

September 24, 2018


Algeria urges cooperation, permanent dialogue to keep oil market stable

ALGIERS, Sept. 23 (Xinhua) -- The Algerian energy minister on Sunday urged global oil producers and consumers to maintain cooperation and permanent dialogue in pursuit of a stabilized market.

'It is in the interests of oil producers and consumers as well as all actors in the petroleum industry to build on their positive efforts to ensure a smooth transition so as not to destabilize the market,' Mustapha Guitouni said in his address to the"...

Continue Reading >

September 22, 2018


Fenix International establishes global headquarters in Uganda

Solar energy company Fenix International, part of global energy group ENGIE, is establishing its global headquarters in Uganda and moving its engineering and technology development centre from San Francisco to Uganda.

Fenix will be one of the first international companies headquartered in the East African country.

The new HQ will cement the company's role as a major"...

Continue Reading >

September 22, 2018


OFID grants support renewable energy youth programs in Egypt

OFID, the OPEC Fund for International Development has extended grants in support of the Regional Centre for Renewable Energy and Energy Efficiency (RCREEE) and Bibliotheca Alexandrina. OFID Director-General Suleiman J Al-Herbish signed both grant agreements in Egypt.

In Cairo, Al-Herbish attended the graduation ceremony of RCREEE’s 10th Arab Program for Sustainable Energy Youth (APSEY) as a guest of honour, signing a US$180,000 grant agreement"...

Continue Reading >

September 22, 2018


Algeria corruption case: Eni, ex-boss acquitted of bribery, Saipem, its CEO found guilty

Energy major Eni and its former boss Paolo Scaroni have been acquitted of bribery in Algeria between 2007 and 2010 by an Italian court, however, oil services group Saipem and a former CEO were found guilty of corruption in a long-running trial over bribes.

Eni, its former CEO Scaroni and its subsidiary Saipem have been facing trial for three years over the alleged payment of $230 million to Algerian officials to win energy contracts.


Continue Reading >

September 20, 2018


Iranian oil minister not to attend OPEC meeting in Algeria

Iranian Oil Minister Bijan Zanganeh will not attend OPEC’ meeting, to be held this month in Algeria, a ministry spokesman said on Tuesday.

“Zanganeh will not attend the meeting in Algeria. He has changed his mind,” said the official, who asked not to be named.

During this meeting, attendees will conduct a thorough assessment and discuss oil output.


Continue Reading >

September 17, 2018


Egypt signs with international firms to explore for petroleum, gas

Egypt's Minister of Petroleum and Mineral Resources Tarek El-Molla signed on Saturday two deals with international firms to explore for petroleum and gas in two deep-water areas in the Mediterranean and the Western Desert.

In a statement, the ministry said the deals were signed with companies from Canada, Britain, the Netherlands, Malaysia, and Kuwait, adding that the deals include drilling 12 wells at an investment of at least 1 billion US dollars.

The minister affirmed that the petroleum sector"...

Continue Reading >

September 17, 2018


$6b China-Algeria phosphate plant

Algeria will cooperate with China to build a phosphate plant worth $6 billion in Algeria's northeast, Algerian Minister for Industry and Mines Youcef Yousfi said late on Friday.

This project aims to exploit the rich, high-quality phosphate resources in Algeria to produce fertilizers, ammonia, silicon and other materials used in various economic activities, Yousfi said. The project will be completed through a partnership between two Algerian firms and two Chinese companies, the minister said.



Continue Reading >

Forex News Headline

Forex Market Video