Algerians took to the streets in their millions for the sixth straight Friday of nationwide protests, trying to push their ailing president from power and bring down a political system seen as corrupt and out of touch.
UK energy service firm Petrofac has clinched a £750 million deal to provide engineering, procurement and construction services for a project in Algeria.
Arab Spring-style protests have rocked Europe’s third-biggest natural gas supplier. Thousands of young Algerians have taken to the streets, fed up with an octogenarian president who’s been in power for 20 years and a weak economy that doesn’t generate enough jobs. While the rare public display of dissatisfaction has sparked a political crisis in the authoritarian state, the country’s energy exports haven’t been disrupted.
Lawyer and Middle East business expert Hugh Fraser has been inducted into a global networking initiative set up to help Scottish firms break international markets.
Algeria’s state energy producer Sonatrach Group plans to increase output of natural gas and crude oil by 20 percent in the next four years as new projects start up, Salah Mekmouche, the company’s vice president of exploration and production, said.
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.
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.
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.
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.