North Africa’s Economy
Demographic milestone: Egypt’s population exceeds 100 million
Cairo, Feb 11, 2020 - Egypt's population has passed 100 million, its statistics agency said Tuesday, highlighting the threat of overpopulation in a poverty-stricken country where many live in crowded megacities. The North African country retains its position as the...
Business: Coronavirus likely to force more oil production cuts
Algiers, Feb 8, 2020 - A committee appointed by the OPEC club of oil-producing countries and its allies to study the effects of coronavirus recommended additional output cuts on Saturday, Algeria's energy minister said. "The coronavirus epidemic has had a negative...
Algeria: Sonatrach CEO Kamel Chikhi dismissed, company fails to stabilize
On 5 February 2020, Sonatrach CEO Kamel Eddine Chikhi was dismissed from his position by a government decree. He was replaced by insider Tewfik Hakkar, who was Vice President for Business Development and Marketing at Sonatrach. Chikhi was appointed in November 2019,...
Mauritania: UAE targets Mauritania, sets foothold there with investment commitment
Abu Dhabi, Feb 2, 2020 - The United Arab Emirates will pump $2 billion into investment and development projects in Mauritania, state media said Sunday during a visit by the country's new leader renowned for his anti-jihadist stand. "The UAE announced on Sunday the...
Egypt: Islamic State claims attack on pipeline in Sinai
Cairo, Feb 3, 2020 - The Islamic State group said on Monday it blew up a gas pipeline in Egypt's restive Sinai Peninsula, claiming it was connected to Israel. Security sources earlier said the pipeline hit was a domestic one that connects to a power station in...
Libya: Crude production collapses as warlord Haftar maintains blockade of oil sites
Tripoli, Jan 25, 2020 - Libya's oil production has plunged by around three-quarters since forces loyal to military strongman Khalifa Haftar launched a blockade a week ago, the National Oil Company announced Saturday. The fall, from 1.2 million barrels a day to just...
Political crisis took center-stage in Algeria’s 2019 security profile, says MEA Risk LLC
In a note addressed to its clients, advisory firm MEA Risk LLC said the apparent easing in political tension in Algeria is not evidence of a return to normal and the end of the anti-regime protest movement. The appointment of Tebboune as president after a massively...
Africa: Corruption in Nigeria’s oil sector
Lagos, Jan 21, 2020 - Nigeria's anti-graft agency said Tuesday it had filed corruption charges against a former justice minister over a $1.3 billion dollar oil scandal involving international majors Shell and Eni. Mohammed Adoke was arrested last month on arrival from...
Libya: Haftar under pressure to resume oil exports
Tripoli, Jan 21, 2020 - The United States called Tuesday for an immediate resumption of Libya's lifeline oil exports that have been blocked by forces loyal to military strongman Khalifa Haftar since last week. "The suspension of National Oil Corporation (NOC)...
Libya: Pro-Haftar militia shuts down pipelines leading to export terminals
UPDATE: Gunmen known for their support to Khalifa Haftar closed on Sunday morning halted the flow of crude oil by shutting down the pipelines that reach the Zawiya port. The closure came after tribes loyal to Haftar threatened to do so, in protest against the Turkish...