Production at Algeria's largest refinery, Skikda, has been halted by a power outage that followed an explosion at the plant, two sources at the refinery said on Wednesday.
"An explosion hit a unit supp
Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the Opec nation's economy, Finance Minister Abderrahmane Benkhalfa said.
Algeria's energy earnings are forecast to fall to $26.4 billion next year while foreign exchange reserves will dip to $121 billion after low oil prices cut into the Opec nation's economy, Finance Minister Abderrahmane Benkhalfa said on S
An electronic port community system to make all trading transactions paperless in Algerian ports based on the Dubai Trade portal has been unveiled at a major seminar held in Dubai, UAE, on investment opportunities in the country.
Algeria has postponed a round of bids for oil and gas exploration rights planned for this year after a slump in world crude prices, and will launch the round when market conditions improve, a senior Algerian energy official said.
Algeria expects a 4.1 per cent rise in oil and gas exports this year to 195 million tonnes of oil equivalent, after achieving increased yields at its Hassi Rmel, Hassi Messaoud, Berkine and El Merk fields, a presidential statement said.
Algeria is considering higher taxes, import duties and a hike in subsidised diesel and electricity prices to help cover its deficit after a slump in crude oil prices eroded its revenues, a preliminary draft of its 2016 budget showed.
Algeria plans to increase natural gas output by 13 percent by 2019, the energy ministry said, to reverse a decline in energy production in recent years that has hit its export earnings and spending policy.
Investment to increase i
Algeria's currency has slipped to a record low against the US dollar, a central bank source said Monday, as falling crude prices more than halved vital oil revenues and hit public finances.
The central bank, which keeps the di
Opec member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday.
Production increased on Saturday when the Bir Sebaa field started pr