Japanese firm JGC has won a $1.4billion contract to help Algeria’s state energy company increase production from its largest gas field, a news report said.
Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers later this week.
Eni said it has reached a strategic agreement with Sonatrach for the implementation of renewable energy in Algeria.
Algeria is on track for more than nine billion cubic metres a year of additional gas output from next year when three delayed projects come online.
Iran has said it will help other oil producers stabilise the world market if other OPEC members recognise the country's right to regain lost market share.
A gas plant in Algeria is ready to come back fully online after it was attacked three years ago by Al Qaeda killing 40 workers.
Some foreign workers evacuated from an Algerian gas plant after it was attacked in March have begun returning to the facility.
The Algerian President has named new energy and finance ministers as part of a cabinet reshuffle.
Petroceltic has successfully completed the second development well on its flagship Ain Tsila field in Algeria under-budget and on schedule.
Petroceltic today confirmed its successful drilling campaign in Algeria.
Statoil’s boss in Algeria said the recent attempted terrorist attack in the country was a “wake-up call” for the company.
Petroceltic International today confirmed it had successfully drilled the first of 24 new development wells on its Ain Tsila gas and condensate field in Algeria.
Statoil employees have left Algeria just a couple of weeks after the gas plant where they worked was attacked by terrorists.
Algeria’s army has killed four militants, who authorities believe are responsible for Friday’s gas plant attack.
Petroceltic International has begun development drilling on its flagship Ain Tsila gas and condensate field in Algeria.
BP has confirmed start-up at its In Salah Gas project in Algeria.
The Irish High Court has granted independent oil and gas producer Petroceltic an injunction prohibiting activist investor Worldview Capital from proceeding with its attempt to hold another extraordinary general meeting.
Exploration company Petroceltic has told its shareholders that activist investor Worldview Capital's attempt to convene a further extraordinary general meeting is unlawful.
Amec Foster Wheeler has won a contract to remove bottlenecks from the massive Hassi R’Mel gas field, 550-km south of Algiers.
OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday. Production increased on Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000 bpd from the Bir Msana field in Hassi Messaoud area, the official told Reuters. Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.
Petroceltic is facing legal proceedings in the High Court in Ireland as its dispute with activist investor Worldview Capital rumbles on.
Petroceltic continues its focus on North Africa with the Council of Ministers in Algeria approving the transfer of its interest in the Isarene production sharing contract to its wholly owned subsidiary Petroceltic Ain Tsila.
Petroceltic has said calls by investor Worldview Capital to hold an emergency meeting regarding its $175 million fundraising bid are a "waste of time".
Oil prices are likely to stay low for a long time after falling more than 40 percent in the past year, said officials from two OPEC nations. Nigeria and Algeria both warned that oil prices, currently at around $60 a barrel, probably won’t recover to the 2011-2013 level of more than $100 a barrel. “You forecast at your own risk, but it seems to me that we should be regarding this as a permanent shock,” Ngozi Okonjo-Iweala, the Nigerian finance minister, said on a panel discussion Sunday in Washington near the end of the International Monetary Fund’s spring meetings. “We should prepare our economies for that eventuality.”
A verdict will be recorded later in the inquest of British victims of a bloody terrorist siege at an Algerian gas plant. Six Britons and a UK-based Colombian were among 40 hostages who were killed by al Qaida-linked Islamists during a four-day stand-off in January 2013 at the In Amenas complex. Assistant Coroner for West Sussex Nicholas Hilliard QC will hand down a verdict and narrative conclusions at the Old Bailey this afternoon. At the start of the inquest last year, the Recorder of London had said: “Each was wholly innocent of events which unfolded when a group of heavily armed went into the In Amenas gas facility. “Forty innocent people lost their lives, such was the scale of events. Each and every death is a wholly separate tragedy and leaves family and friends devastated and bereft.”