As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.» Read More
ALGIERS, Algeria— Algeria's minister of energy said Thursday the country could boost oil production to compensate for the dramatic drop in oil prices. Algeria produces some 1.2 million barrels of oil a day, according to its OPEC quota, but the 50 percent drop in prices over the last few months has hurt the country. While Algeria has some $200 billion in foreign...
ALGIERS, Algeria— Algeria's prime minister announced Wednesday that plans to drill for the country's abundant shale gas reserves have been scrapped. "I confirm that the exploitation of shale gas is not the order of the day as for now Algeria has sufficient reserves of conventional energy to meet its needs," Prime Minister Abdelmalek Sellal said.
WARSAW, Nov 28- Poland's embassy in Algiers is not the grandest posting- the diplomats share the building with their Swedish colleagues to keep costs down- but last year it oversaw the fastest growth in trade of any Polish mission. When Poland joined the European Union a decade ago, it believed it had found its path to prosperity. That Poland and its peers in eastern...
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.
*France rejected negotiation over Iraq intervention. ALGIERS, Sept 24- Algerian militants have beheaded French tourist Herve Gourdel, who was kidnapped by gunmen on Sunday in what the group said was a response to France's action against Islamic State militants in Iraq.
*France rejected negotiation over Iraq intervention. ALGIERS, Sept 24- Algerian militants have released a video that appears to show them beheading Frenchman Herve Gourdel, who was kidnapped on Sunday, in what the group said was a response to France's action against Islamic State militants in Iraq.
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.
Majid Jafar, CEO of Crescent Petroleum, tells CNBC that a general sense of instability post the Arab Spring has already been factored in to the oil price but there has been no direct impact from the Algerian hostage attack.
A consortium that deals with security issues is warning about possible threats to oil installations in Libya.
Neil Atkinson, director of Energy Research & Analysis at Datamonitor, tells CNBC that BP are talking about suspending drilling activities in Libya following the terrorist attack in Algeria.
Tony Nash, Managing Director, IHS discusses the ground level risks that energy firms face. He says companies are taking a more disciplined and methodological approach to risk.
The biggest mistake the energy industry makes is to ignore regional and geopolitical dynamics. It's complicated, and the corporate world doesn't have the patience for it.
Lord Malloch-Brown, EMEA chairman of FTI Consulting, tells CNBC that the revival of the centrist vote in Israel is 'good news' but a weaker Netanyahu may become a 'prisoner' of the right.
Brent crude rose above $112 a barrel on Tuesday, after Japan pledged to pump in more money to boost its economy.