Tag: Algeria

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 »

Algerian gas plant in terror siege resumes work

A gas installation in Algeria that was the site of a terrorist attack last month that left 37 hostages dead partially resumed production Sunday, as the head of the state-owned energy company said he would request armed personnel for energy plants to help prevent future assaults on sites that can be hundreds of miles from the nearest city.  More »

In Africa, “there will be winners and losers”

With 48 of the continent’s 54 countries pursuing exploration for oil and gas, longtime advisor on Africa, Lord Mark Malloch-Brown, says investors need to be savvy.  More »

Attacked Algerian gas plant to resume partial work

The head of Algeria’s state-owned energy company, Sonatrach, says the gas complex that came under terrorist attack last month will partially resume work in the next week.  More »

BP identifies workers killed in Algeria attack

BP confirmed Monday that four of its employees, including a vice president, were killed in the terrorist attack on the natural gas facility in Algeria that it jointly operates.  More »

Second Houston-area man confirmed dead in Algeria

Houstonian Victor Lynn Lovelady was killed in last week’s hostage standoff at a natural gas complex in Algeria, the third American reported dead. See Lovelady’s family talk about their loss.  More »
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