As the Egyptian pound reaches 6.1858 to a dollar, its lowest in 8 years, the central bank is urging Egyptians to “ration” their foreign currency use and support national industries. The Central Bank has decided to introduce a new system of buying and selling foreign currency in the form of foreign-exchange auctions to scale back [...]
Libya, an OPEC member, which is seeking to boost its oil production, is currently hit by some waves of sporadic demonstrations, affecting the North African country’s oil sector. The oil port of Al-Zuweitina, 790 kilometers east of Tripoli, has been forced lately to shut down its operations by some protesters who stormed into the port’s [...]
Sonatrach has announced another ambitious project that it will undertake within the shores of the country to increase its strategic storage. Speaking on behalf of the company, Chief Executive officer Abdelhamid Zerguine said that an investment plan worth DZD 198 billion will be pumped into the plan to increase the country’s strategic potential of storing [...]
The Islamic republic of Mauritania ambitions to be self sufficient in terms of energy demands has taking another giant stride after the country awarded the construction of a thermal power plant with a capacity of 120megawatts to a French company. However, criticisms followed as soon as the announcement was made. The government awarded the thermal [...]
Some on the belongings of ex-president Zine al Abidine Ben Ali will be going under the hammer in Tunisia. He left the country when protests swept Tunisia in early 2011, as the Arab Spring uprising gained momentum. The items on exhibition highlight the life of a luxurious president. The items were seized after his exile [...]
Cairo International Film Festival (CIFF) is being held this year although it was cancelled last year due to the violent demonstrations in Tahrir Square, close to where the films are shown. The decision has been hailed as a bold one despite the current crisis in the country. It will be held in the same place [...]
The head of the European Union parliament, Martin Schultz who is presently on an official visit to Tunisia said it seems as if Tunisia is “desperately” seeking closer economic cooperation with Europe after the toppling of its autocratic regime two years ago. He said the country is facing a critical situation after having achieved the [...]
According to a report entitled ‘Mergers and Acquisitions in the Oil and Gas Industry: Current Upstream M&A Issues and Transaction Considerations’ released by Deloitee, Libya will be the centre of attraction for companies willing to invest in North Africa’s energy and petroleum sector. Libya has been boosting its energy efforts and it has surpassed 3 [...]
Expectations are reaching the climax as reports concerning the Algerian interest in the French automaker Renault SA construction of a plant in the country for the local market claim that all that is left between the two parties is their signatures. The spokeswoman of the carmaker company remained tightlipped about the claims of the report [...]
A decade long investment plan worth $8 million has been revealed by ENI# to develop its upstream business as it moves to strengthen its grip as the leading international oil and gas producer in Libya. The announcement was made by its Chief Executive Paolo Scaroni who also presented the investment and development objectives of the [...]
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