Thursday 24 July 2014
 
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Algeria

Sonatrach to spend $100bn to boost oil, gas

Algerian state energy group Sonatrach has approved a $100 billion investment plan for 2014-2018 to increase oil and gas output and also aims to start producing shale gas in 2020, the official APS news agency reported. Opec member

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Algeria, Egypt's Sisi talk security, gas shipments

Algeria agreed to ship five cargoes of liquefied natural gas to Egypt before the end of the year, a source at Algerian state energy firm Sonatrach said, helping its north African neighbour with its worst energy crunch in years. Th

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Germany's Rheinmetall wins $3.7bn Algeria defence deal

German defence group Rheinmetall is set to sign a 2.7 billion euro ($3.7 billion) deal in the coming weeks for the production of 980 Fuchs 2 military vehicles for Algeria, newspaper Handelsblatt reported on Wednesday, without citing sources.

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Petrofac wins $970 million Algerian contract

UK-based oil and gas services group Petrofac, which slashed its 2014 profit forecast by 11 percent this month, said on Friday it was awarded a contract worth $970 million in Algeria. Petrofac said the contract was for gas gatherin

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DP World chief, minister discuss Algeria plans

DP World chairman Sultan Ahmed bin Sulayem has met with Algeria’s Minister of Transport Amar Ghoul to discuss DP World’s successful continued investment in Algeria. DP World was awarded the concession to operate the co

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Algeria's Bouteflika sworn in for fourth term

Algeria's President Abdelaziz Bouteflika was sworn in for a fourth term on Monday after easily winning an election opponents dismissed as fraudulent to re-appoint the ailing independence veteran after 15 years in power. State

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Drake and Scull wins $40m Algeria contract

Dubai construction firm Drake and Scull International has won a 147 million UAE dirham ($40 million) project to build a mixed-use development in the capital of Algeria, the company said on Wednesday. Drake and Scull will undertake

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ABC Algeria wins Global Finance award

New York-based Global Finance magazine has named the Arab Banking Corporation-Algeria (ABCA) as the "Best Emerging Markets Bank in Algeria" for 2014. ABCA is a subsidiary of the Bahrain-based Arab Banking Corporation Gro

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Bouteflika camp claims poll win in Algeria

Algerian President Abdelaziz Bouteflika looked set to win a fourth term with allies claiming victory in an election, despite questions over his health and his rare appearances since suffering a stroke in 2013. Official results wer

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Al Baraka sees Algerian unit's assets grow

Al Baraka Bank Algeria, a subsidiary banking unit of Al Baraka Banking Group (ABG), achieved good financial results, growth in businesses and expansion in branch network last year. The bank's assets grew by six per cent to rea

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