Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a move an analyst called "a big step" for the country's energy ambitions.The two companies plan to "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and...

Algiers, Algeria -- Sonatrach, the state-owned energy company of Algeria, will allocate $8.8 billion investment in 2024, which represents 17.6 percent of the total Algerian investment portfolio of $50 billion for the next four years (2024-28).The company's CEO, Rachid Hachichi, told QNA that majority of the allocated funds (71 percent)...

Algeria's president has named Rachid Hachichi as new CEO.

Algiers, Algeria - Algeria's state oil company Sonatrach said on Sunday it had signed contracts to boost gas production under an existing agreement worth about $740 million with French giant TotalEnergies.The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in Europe,...

Algiers, Algeria-- Sonatrach of Algeria and VNG AG of Germany have signed a memorandum of understanding for the construction of the first green hydrogen plant in the North African country.The MoU was signed on the sidelines of the fourth Algerian-German Energy Day in Algiers. The deal was signed between Sonatrach,...

The company announced the completion of production of the Tinrhert gas field at the end of November 2022.

While Europe scrambles to replace Russian energy supplies in the wake of the war in Ukraine, Slovenia has signed a three-year deal with Algerian state energy firm Sonatrach to buy gas via a pipeline through Italy from January. Slovenian foreign minister attended the signing ceremony along with her Algerian counterpart.

The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of the existing long-term gas supply contracts taking into account market developments, It did not say which way they would be revised, but natural gas prices have more than doubled in...

Algerian state energy firm Sonatrach announced Monday the discovery of an "important" deposit of gas condensate in the Hassi R'mel field in the Sahara desert.

Gas giant Algeria threatened Wednesday to break a contract to supply gas to Spain if Madrid transferred it onwards to "a third destination", amid tensions with regional rival Morocco. Algeria's state-owned energy giant Sonatrach supplied more than 40 percent of Madrid's natural gas imports in 2021.

Algiers last month recalled its ambassador from Madrid in protest at a decision by Spain to back a Moroccan autonomy plan for the ex-Spanish colony of Western Sahara.

Algeria's state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine, its CEO said Sunday.

The Algerian group announced the deal during a visit to the neighbouring North African country by its chief Toufik Hakkar.

*MoU includes possible cooperation in greenhouse gas emissions, carbon management *Equinor involved in the development and production of two gas fields in Algeria Norwegian energy giant Equinor has partnered with Algeria’s state-owned oil company Sonatrach to examine cooperation in global oil and gas exploration and production. The memorandum of understanding...