Business Algeria

  • LONDON, Aug 23- Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices. Brent crude was down 52 cents at $48.64 a barrel at 1344 GMT. U.S. crude was down 66 cents at $46.75.

  • LONDON, Aug 23- Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices. Brent crude was down 41 cents at $48.75 a barrel at 1103 GMT. U.S. crude was down 37 cents at $47.04.

  • LONDON, Aug 23- Oil fell below $49 a barrel on Tuesday, giving up part of August's strong rally, as signs of rising supply outweighed hopes that producing nations will agree steps to support prices. Brent crude was down 59 cents at $48.57 a barrel at 0845 GMT. U.S. crude was down 62 cents at $46.79.

  • DUBAI, Aug 11- OPEC members and non-members will discuss the oil market situation next month in Algeria, including any possible action that may be needed to stabilise the market, Saudi Arabia's energy minister said on Thursday. The International Energy Forum, which groups producers and consumers, is due to meet on Sept. 26-28 in Algiers. Khalid al-Falih said in a...

  • DUBAI, Aug 11- OPEC members and non-members will discuss the oil market situation next month in Algeria, including any possible action that may be needed to stabilize the market, Saudi Arabia's energy minister said on Thursday. The International Energy Forum, which groups producers and consumers, is due to meet on Sept. 26-28 in Algiers. Khalid al-Falih said in a...

  • MUSCAT, Aug 10- Oman will not participate in a meeting of oil producers and consumers in Algeria next month as it is disappointed by the group's failure to address the issue of low oil prices, Minister of Oil and Gas Mohammad bin Hamad al-Rumhy said on Wednesday. Qatar said on Monday that OPEC members had agreed to hold talks on the sidelines. Oman, a small non- OPEC oil...

  • Brazilian soldiers stand on patrol during a security rehearsal of the Rio 2016 Olympic Games opening ceremony outside Maracana stadium on July 17, 2016 in Rio de Janeiro, Brazil.

    Brazil arrested 10 people suspected of belonging to a group supporting IS and discussing terrorist attacks on the Rio Olympic Games.

  • *OPEC, non- OPEC producers may consult at Sept forum. Despite the collapse of talks on restraining production among OPEC and non- OPEC members earlier this year, he thinks the discussions were a success that might soon be repeated. "It paved the way for a reversal of negative trends in the oil markets," Novak told reporters last week after meeting OPEC member...

  • ALGIERS, May 31- Algeria's dinar currency has fallen to its lowest levels since independence from France, hit by lower energy prices that have sapped the OPEC producer's revenues. After a few weeks of stability, the dinar on May 25 hit a five decade, reaching 110.52 to the dollar and 123.17 against the euro, according to figures from the central bank.

  • Pipelines and oil storage tanks in Cushing, Okla.

    Oil prices may be tanking in the wake of a failed attempt to freeze production, but Citi is betting on a recovery in prices.

  • *Algeria needs to boost output as oil prices fall. ALGIERS, March 22- After a deep slide in oil prices, Algeria's Sonatrach is shifting strategy to offer foreign firms direct negotiations to buy stakes in 20 oil and gas fields in a bid to attract investors and increase output, a source at the state energy company said. Algeria, a key gas supplier to Europe, is also in...

  • An Algerian gas plant owned by Norway's Statoil, BP and state firm Sonatrach was attacked on Friday, the company said.

  • ALGIERS, March 10- Algeria is in talks with China to exploit one of the North African country's largest mining deposits as the OPEC member tries to diversify its economy away from oil and gas, an industry and mines ministry official said on Thursday. Algeria relies heavily on oil and gas to finance its budget and pay for a growing imports bill.

  • Oil workers conduct a drill in a petroleum well in Lagunillas at the east coast of Lake Maracaibo near Maracaibo City in Venezuela.

    Plunging oil prices have left many crude-exporting countries with budgets that simply won't balance.

  • Amedeo Modigliani (1884-1920). Nu couche. Painted in 1917-1918.

    A Modigliani nude painting was sold to an unnamed Chinese buyer at Christie's on Monday for $170.4 million.

  • Nigerian oil facility

    As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.

  • Why now is the time to look at low-cost oil producers

    Joe Magyer, Senior Analyst at The Motley Fool, describes the reaction of emerging market assets to plunging oil prices.

  • JPMorgan: Brent to settle at $75 in Q1 2015

    Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, explains why he sees further declines in oil prices next year.

  • Saudi Arabia is trying to curtail US shale: CS

    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.

  • Expect oil glut, US shale bankruptcies: Analyst

    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.