Algeria | Egypt Oil & Gas - Part 24

Algeria Cuts Spending, Energy Revenues Falls

Algeria will trim spending in its 2015 budget by 1.35 percent, expecting a slump in oil prices to reduce its energy earnings 50 percent, the government said on Thursday.

Algeria’s Q1 Oil and Gas Output Decreases 6 Percent

Algeria's oil and natural gas output fell by 6 percent in the first quarter of 2015 from a year earlier despite an increase in investment, state radio reported on Wednesday citing the energy ministry.

EU Looks to Mediterranean to Diversify Gas Supply

The European Commission is preparing a ‘diplomatic energy action plan’ to diversify the EU’s natural gas supply sources, with plans for tapping Algeria’s huge unexploited reserves, and a comprehensive LNG strategy du ...

Algeria’s Sonatrach Appoints Chief Executive

Algeria's state energy firm Sonatrach has named Amine Mazouzi as its new chief executive to replace interim chief Said Sahnoun, who had been appointed less than a year ago, according to two industry sources on Sunday.

Algerian LNG Shipment Expected to Arrive in Egypt

A 3 billion cubic meter liquefied natural gas shipment from Sonatrach natural gas Algerian company will arrive in Egypt by next week via Ain Sokhna port, Khalid Abdul Badi Chairman of the Egyptian Natural Gas Holding ...

Venezuela Teaming Up with Foreign Partners to Target US Market, Oil Prices

Algeria's Sonatrach and Venezuela's PDVSA would target the US as a market for the two countries' potential new blend of crude oil, a source at the state-owned Algeria company said Monday

Mexico Supports Algeria’s Bid to Cut Oil Output

Mexico supports Algeria's initiative to encourage dialogue between OPEC and non-OPEC countries in a bid to begin collective action that would help stabilize oil markets through a coordinated production cut, Algerian ...

Repsol Strikes Gas Discovery in Algeria

Repsol has made its third gas discovery in the Illizi basin, in the southeast of Algeria. The discovery in Tan Emellel Sud-Ouest-2 (TESO-2) exploration well in the Sud-Est Illizi block is the continuation of an alrea ...

Nigeria and Algeria Predict a Long Period of Low Oil Prices

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.

Algeria Faces Leadership Vacuum Amid Oil Challenges

When Abdelaziz Bouteflika ran for a fourth term as Algeria’s president a year ago, the opposition cautioned that he would be too sick to govern.

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