Tag: Algeria

More gas found in Algeria region hit by 2013 hostage-taking

An al-Qaida splinter attacked the nearby Ain Amenas gas plant in January 2013, resulting in the death of 40 plant workers, mostly foreigners.  More »

Algeria oil corruption trial begins after 5-year delay

In a packed courthouse that included the ambassadors of Italy, the U.S. and Germany, prosecutors read out the charges against former head of Sonatrach, Mohammed Meziane, his two sons, and 16 other company officials.  More »

Algeria to boost oil production in face of falling prices

Youcef Yousfi told the parliament Thursday that Algeria was working on dozens of deposits and studying the possibility of boosting production to increase revenues.  More »

Oil falls to 5-year low as supply glut seen lingering

Futures plunged 46 percent this year, set for the biggest annual drop since 2008, as the Organization of Petroleum Exporting Countries resisted supply cuts to defend market share in response to the highest U.S. output in three decades.  More »

Working overseas dangerous, lucrative for oil and gas employees

Terrorist groups have increasingly been targeting oil and gas workers for their lucrative kidnapping ransoms.  More »

Iran vows to guard oil-market share as OPEC to review output

Iran’s crude output has languished under international economic sanctions that deter foreign energy investors and limit its exports to approximately 1 million barrels a day.  More »

Oil slide prompts Iran’s oil minister to visit UAE

OPEC producers have stepped up their diplomatic visits before the group’s meeting in Vienna, potentially seeking a consensus on how to react to oil prices at a four-year low.  More »

OPEC’s weak links feeling pain

While the Saudi Arabia is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.  More »

Family says BP lied about man’s cause of death in terrorist attack

The family of a Houston man killed in a terror attack on a BP plant in Algeria early last year claims the oil company lied about how the man died and that its Internet access policy contributed to his death.  More »

Asset sales boost Conoco’s quarterly profit as revenue drops

ConocoPhillips’ fourth-quarter earnings rose 79 percent, largely due to asset sales in Algeria and the Caspian Sea, the company reported Thursday.  More »

ConocoPhillips boosts 2014 budget by about $1B

ConocoPhillips is planning to spend $16.7 billion next year, aiming to boost drilling in U.S. shale plays and increase expenditures in the deep-water Gulf of Mexico, Alaska and elsewhere, the company said Friday.  More »

Algeria announces major oil discovery

Algeria’s energy minister said the state oil company, Sonatrach, will rely on unconventional techniques to extract 50 percent of the reserves, including hydraulic fracturing, also known as fracking.  More »

Terrorist behind attack on BP Algeria plant quit al-Qaida

After years of trying to discipline him, the leaders of al-Qaida’s North African branch sent a scathing final letter to their most difficult employee, describing how he failed to turn in his expense reports and carry out orders. Moktar Belmoktar responded the way talented employees with bruised egos have in corporations the world over: He quit.  More »

Algeria’s security forces to protect energy plants

An Algerian official says that the country’s security forces will take over the job of securing the country’s oil and gas facilities, instead of private companies, following a massive terrorist attack in January.  More »

Algeria committed to mining resources, despite attack

Algeria remains committed to mining its natural gas resources and won’t be deterred by the terrorist attack in January at a plant there, in which more than three-dozen people were killed, the country’s minister of energy and mines said Tuesday.  More »
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