Oil and gas

February 18, 2017

1

London-based Sonatrach subsidiary motivated by encouraging profit margin

Prime Minister Abdelmalek Sellal said Thursday that the creation, in 1989, of a London-based Sonatrach's subsidiary for marketing gas to European countries was motivated by the important profit margin, the supply deficit and imports capacity.

In reply to an oral question at the Council of the Nation (upper house of Parliament), read on his behalf by Minister for Relations with Parliament Ghania Eddalia, the premier said the Sonatrach Petrolier"...

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February 12, 2017

2

Venezuela maintains coordination with Algeria to “rebalance” oil market

Venezuela maintains its coordination with Algeria to “rebalance” the oil market and obtain “fair and sustainable” prices said Saturday, in Algiers, the Venezuelan minister of Foreign Affairs, Delcy Eloina Rodriguez Gomez.

“We maintain our coordination to rebalance the market and obtain just and sustainable prices,” which take into account “the interests of producer countries and the overall functioning of global"...

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February 11, 2017

3

Venezuelan ministers to visit Algeria for oil price talks: ministry

Venezuela's oil and foreign ministers will visit fellow OPEC member Algeria this weekend for consultations on dealing with oil price instability, Algeria's foreign ministry said in a statement.

The two parties will discuss coordination over OPEC's agreement in September to reduce oil production by 1.2 million barrels a day to help support global oil prices, the"...

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February 8, 2017

4

Algerian-Tunisian Energy Committee: Better supplying border regions

The Algerian-Tunisian Bilateral Energy Committee stressed the need to optimizing the electrical interconnections, better supply the border regions.

During the periodical meeting held Tuesday in Algiers under the chairmanship of Energy Minister Noureddine Boutarfa and Tunisian counterpart Héla Cheikhrouhou, the discussions focused on the state of the progress of the current projects and contracts, as well as the opportunities for future cooperation, Energy Ministry said in a communiqué.

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February 8, 2017

5

Focus on oil and gas productivity at Algeria event

Major players in the North African oil and gas industry will take part in the 7th North Africa Petroleum Exhibition & Conferences (Napec) to be held in March in Oran, Algeria.

The event, from March 21 to 24, is set to focus on strengthening operational excellence and increasing productivity as the market in North Africa shows signs of stability, despite the production cut to comply with Opec’s decision, a statement said.

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February 7, 2017

6

Eskom terminates six coal transportation agreements

South Africa’s power utility Eskom has truncated six coal transportation agreements following an investigation that is part of efforts to ensure clean governance.

Eskom terminated its agreements with Constructibility 10CC, Fastrak, IM Monokoane, NJM Transport, Lamavuso and Dhlams & Dhlams.

Following a tip-off in July 2016, Eskom undertook an investigation into allegations"...

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February 2, 2017

9

Puma set to pounce on SA fuel market

Energy group Puma Energy plans to increase its market share in the South African fuel sector from the current 3 percent to 8 percent by 2021, irrespective of whether it acquires assets from oil multinationals.

The company’s chief operations officer Jonathan Molapo on Wednesday told Business Report that Puma would want to compete against established oil companies such as Shell South Africa, Engen Petroleum, BP Southern Africa, Chevron South Africa"...

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February 2, 2017

10

East Africa mega projects reduce by half in 2016: Deloitte Report

Africa’s mega infrastructure spending in 2016 dropped by Sh5 trillion to Sh33 trillion following tough global macroeconomic conditions resulting in lower growth forecasts. This is according to a new report by Deloitte which states that construction projects that had broken ground by 1 June 2016 – and are valued at Sh5 billion or higher – stood at 286 in 2016 compared to 301 recorded in the previous year. Of these, East Africa contributed 43 projects valued at Sh2.8 trillion, a 52 percent drop from 2015. “These construction trends reflect lower growth forecasts globally...

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