Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
The Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position.
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Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
The Algerian national company has restarted a key liquefaction unit in Skikda, strengthening its export capacity amid massive investment in the gas sector.
Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.
Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.
Solar panel imports into Africa reached 15,032 MW in one year, setting a record and marking an expansion beyond South Africa, according to the energy research organisation Ember.
Alnaft and Occidental Petroleum signed two agreements to assess the oil and gas potential of southern Algerian zones, amid rising budgetary pressure and a search for energy stability.
OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.
Around 80 Russian technical standards for oil and gas have been internationally validated, notably by the United Arab Emirates, Algeria and Oman, according to the Institute of Oil and Gas Technological Initiatives.
The eight OPEC+ members concerned will end next month the cuts introduced in November 2023, while keeping the option to readjust their output depending on market fundamentals and quota compliance.
Eight OPEC+ countries boost output by 547,000 barrels per day in September, completing their increase program twelve months early as Chinese demand plateaus.
Saudi Aramco and Sonatrach have announced a reduction in their official selling prices for liquefied petroleum gas in August, reflecting changes in global supply and weaker demand on international markets.
Sonatrach continues to assess underexploited oil and gas areas with the support of Sinopec, following a gradual strategy to strengthen its position on the regional energy market.
