Business Algeria


  • ALGIERS, Algeria— Algeria's independent media is noisy, unsparing and often acerbic— and authorities think that's a problem. An Algerian journalist who lives in London was arrested a week ago while visiting his homeland. The independent media sprang up in the early 1990 s after Algeria did away with the single-party system that ran the country since its...

  • *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.

  • *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...

  • 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.

  • *Italy says Libya occupation by West "unthinkable". *Says unilateral actions have not helped Libya in past. ROME, Feb 25- Italy is resisting pressure to allow aircraft and armed drones to stage attacks on Islamic State militants in Libya from its territory, saying on Thursday that direct Western military intervention on the ground there was "unthinkable".

  • *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...

  • 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...

  • 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.

  • Oil markets undergoing structural trend: Expert

    Kerry Series, Founder and CIO, Eight Investment Partners, says recent declines in oil prices are stimulatory for the global economy.

  • An Air Algerie jet is shown at Berlin's Schoenefeld Airport.

    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.

  • Algerian President Abdelaziz Bouteflika casts his vote in the country's recent presidential elections in el-Biar suburb of Algiers on April 17, 2014.

    Disruption from the Russia-Ukraine conflict is not the only threat to Europe's energy supplies—there's also Algeria.

  • Change is in the air: demonstrations in Cairo's Tahrir Square

    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.