Tag Archives: Algeria

Algerian state energy firm Sonatrach resumed oil and gas exploration drilling in Libya in mid-October, Libya’s National Oil Corporation (NOC) said on Thursday, as several international majors have restarted work in Libya’s oil and gas basins. Algeria’s Sonatrach is drilling an exploration well in the Ghadames basin close to the …

Algeria nears the finalization of agreements with U.S. supermajors Exxon and Chevron to explore and invest in its shale gas resources as the North African country bets big on boosting its gas pipeline and LNG exports, the head of the Algerian energy regulator told Bloomberg. “The technical aspects have more …

Exxon has signed a deal with the Algerian government for exploration at two natural gas fields in the North African country. The supermajor, in partnership with Algeria’s state energy firm Sonatrach, will “study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin” in …

The UK’s Grain LNG, Europe’s largest liquefied natural gas terminal, signed on Wednesday a ten-year agreement that will extend the long-term storage and redelivery capacity of Algerian gas company Sonatrach at the Grain LNG terminal from January 2029. Grain LNG, located on the Isle of Grain in Kent, is the …

Qatar is paving the way to build a new chemical plant in Algeria as part of a potential partnership with the country’s state-owned Sonatrach, Elkhabar Daily reported. The partnership between Qatar’s Power International Holding and Sonatrach would include the construction of a new petrochemical complex that will produce raw materials …

ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sources with knowledge of the talks and Algerian Energy Minister Mohamed Arkab. …

Algeria’s exports of liquefied natural gas (LNG) rose in the first quarter of 2023 compared to the same period of 2022, and the North African producer booked the highest LNG export growth rate among the Arab countries as Europe seeks to replace Russian pipeline gas supply. Algeria’s LNG exports rose …

Eni has closed on the acquisition of BP business in Algeria, regarding the two gas-producing concessions “In Amenas” and “In Salah”, which are jointly operated with Sonatrach and Equinor. The transaction has been approved by the competent national and antitrust authorities. The operation was announced in early September, with the …

Sonatrach intends to invest more than $30 billion in the exploration and production of hydrocarbons, in particular natural gas to improve the supply of the world market, said the CEO of the group, Toufik Hakkar. “As part of Sonatrach’s five-year investment plan (2023-2027) the order of $40 billion, more than …

Algeria has set the reference price for crude oil at $60 a barrel through 2023-2025, state news agency (APS) said on Sunday, citing the 2023 budget approved earlier in the day by President Abdelmadjid Tebboune, Trend reports citing Reuters. The budget set the market price for crude oil at $70 …