Algeria | Egypt Oil & Gas - Part 22
Algeria and Germany to Develop Energy Partnership
Algiers and Berlin are to start mutual energy cooperation by boosting German energy investments in the northern African country.
Algeria’s Bir Seba Field Marks its First Oil Flow
Vietnamese oil and gas explorer PetroVietnam Exploration Production Corporation celebrated the first commercial oil flow from Bir Seba, in Algeria.
ENI Mulls Gas Contracts Cancellation
Italian energy company ENI ponders cancellation of its long-term gas contracts with Algeria, Russia, and Norway due to suffered losses of hundreds of millions of Euros, and the impasse at the Turkish Stream gas pipeline.
Algeria’s 2016 Budget Raises Energy Prices
Algeria has increased gasoline, diesel, gas and electricity prices in its 2016 budget to cope with a sharp fall in energy earnings and ahead of further austerity measures.
GECF Finally Agrees for Algeria to House Gas Research Institute
The Gas Exporting Countries Forum (GECF) gathered in Tehran accepted Algeria's proposal to house the headquarters of the Gas Research Institute.
Saudi Cabinet Makes Tentative Pronouncements on Oil Price Cooperation
Saudi Arabia's cabinet said it was ready to cooperate with OPEC and non-OPEC countries to achieve market stability.
Algeria Energy Earnings to Fall by 50% This Year
Algeria’s energy earnings are forecast to fall to $26.4b next year while foreign exchange reserves will dip to $121b after low oil prices cut into the Opec nation’s economy.
Algeria to Focus Next Year on Developing From Older Oil Fields
Sonatrach state energy company Vice President, Salah Mekmouche, said the company would focus on developing more from older fields like Hassi Massoud, Hasi Berkine, and Illizi southwest and east.
