Browsing: Russia war in Ukraine

The findings are quite encouraging for Sonatrach and Algeria, both of which have not seen major increases in their hydrocarbon reserves since the middle of the 2000s.

Since the beginning of the year, Algeria has experienced an increase in the amount of oil and gas being exported via pipeline and sea; Algeria has provided Italy with 13.9 billion cubic metres, which is more than 113 per cent of the amounts that were originally expected.

More recently, Occidental (US), Total Energies (France), and Eni (Italy) came to an agreement worth US$4 billion to develop a site located in the Berkine perimeter and generate 1 billion barrels of oil equivalent. The transaction was signed by all three companies.

Sonatrach and other international oil firms can now enter into production-sharing agreements according to a hydrocarbon law passed in 2019, despite the fact that the legislation sparked some street protests. However, it established a …

  • The US government sent out a warning against 14 countries, mainly from Africa, against buying grains from Russia on grounds that they had been stolen from Ukraine
  • Washington backed claims by Ukraine, which accused Russia of stealing over 500,000 tons of wheat, estimated to cost over $100 million since the start of the war
  • Russia launched a full assault on Ukraine, its southwest neighbour, on February 24, 2022, marking a significant escalation in the ongoing Russian-Ukrainian conflict

As millions of Africans continue to face severe drought that has been exacerbated by the rising food prices, Russia is making a bold move that the US government has been quick to condemn.

The US government sent out a warning against 14 countries, mainly from Africa, against buying grains from Russia on grounds that they had been stolen from Ukraine. Russia launched a full assault on Ukraine, its southwest neighbour, on February 24, …