*Algerian and Azerbaijan parties go ahead. LONDON, Feb 4- Azerbaijan and Algeria have been battered by a slump in oil prices, but their national energy companies will still lay on lavish hospitality next week in London when the industry gathers for its annual string of parties and networking events. The hotel, where a night in a standard double room will set guests...
RABAT, Feb 4- Abnormally dry weather across North Africa is threatening to become another financial headache for Morocco and neighbouring Tunisia and Algeria, just as each seeks to spur more economic growth and cut public spending. Rising food import costs would come at a delicate time, as Morocco faces protests over austerity measures, Tunisia struggles to...
ALGIERS, Algeria— An Algerian court has fined German and Italian companies and convicted eight people of corruption or related crimes in a vast trial into wrongdoing around state-run oil giant Sonatrach. The court in Algiers sentenced them to terms ranging from an 18- month suspended sentence to six years in prison, according to state news agency APS.
MILAN, Feb 2- Italian oil services group Saipem said on Tuesday it would appeal an Algerian court ruling ordering one of its units to pay a 34,000 euro fine for allegedly inflating prices on contracts to build a gas pipeline. The company, which is jointly controlled by oil major Eni and state lender fund FSI, is also in the midst of a highly-dilutive 3.5 billion euro...
Plunging oil prices have left many crude-exporting countries with budgets that simply won't balance.
NEW YORK, Nov 9- A Modigliani nude painting was sold to an unnamed Chinese buyer at Christie's on Monday for $170.4 million, the second-highest price ever for a work of art at auction, as deep-pocketed collectors continue to pay, and pay big, for some rare masterpieces up for sale in this year's autumn auctions season. In a packed salesroom marked by deliberate but...
GERMAN PROSECUTOR SAYS INVESTIGATION OF WINTERKORN IS PRELIMINARY, NOT FORMAL.
GERMAN PROSECUTOR SAYS WISHES TO CLARIFY IT HAS NO EVIDENCE OF WRONGDOING BY FORMER VOLKSWAGEN CEO WINTERKORN.
As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.
Joe Magyer, Senior Analyst at The Motley Fool, describes the reaction of emerging market assets to plunging oil prices.
Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, explains why he sees further declines in oil prices next year.
David Hewitt, Co-head of Global Oil & Gas Equity Research at Credit Suisse, says OPEC is facing an economic conflict with U.S. shale producers.
Neil Beveridge, Senior Oil Analyst at Sanford C. Bernstein, says OPEC's decision not to cut output is triggering a glut of supply and may result in bankruptcy for U.S. shale producers.
Kerry Series, Founder and CIO, Eight Investment Partners, says recent declines in oil prices are stimulatory for the global economy.
Authorities have found the wreckage of an Air Algerie jet after it crashed in Mali carrying 116 people en route from Burkina Faso to Algeria.
Disruption from the Russia-Ukraine conflict is not the only threat to Europe's energy supplies—there's also Algeria.
Thanks to social media women all over the Middle East are finding ways to help one another start businesses. It's a movement that is about more than economics.
OPEC oil exporters agreed on Friday to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel.
Oil traders should not lose too much sleep worrying about what OPEC, often unpredictable and quarrelsome in the past, will do when it meets next week.
Torgrim Reitan, CFO of Statoil, tells CNBC that earnings and production are growing significantly and 2012 was the best exploration year for the company since 1997.