OPEC only partially delivered new oil production cuts in the first month of its latest supply pact, according to a report from the group.
Algeria’s state oil and gas firm Sonatrach has plans for a $1 billion project for natural carbon storage through planting 420 million trees over 10 years, Algeria’s Ennahar TV reported on Monday, citing Energy Minister Mohamed Arkab as saying.
Indonesian Government-backed energy company Pertamina has secured a long-term extension to its contract to develop the Menzel Ledjmet Nord (MLN) oil and gas block in Algeria.
Nigeria produced the most crude oil, followed by Algeria and Angola. Nigeria, Angola, and Algeria have three of the ten largest crude oil fields in Africa in terms of production in 2022.
Nigeria’s gas export dropped to one million tonnes in January, representing 35 per cent decline year on year, and lower than export volumes by Algeria.