Political uncertainty will weaken Algeria’s growth outlook: Moody
Moody’s rating agency has said that prolonged political uncertainty in Algeria will undermine growth prospects and weigh fiscal and international imbalances
Downstream
New OPEC+ cuts are needed to prop up oil prices: Rystad Energy
As oil prices approach US$70 a barrel, Rystad Energy expects that a short-lived price rally through the first half of 2020 will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC
Saipem wins US$200mn offshore drilling contracts
Italian offshore contractor Saipem has won new offshore drilling contracts in Norway and the Middle East totalling more than US$200mn
Sahara Group canvasses intra-Africa solution for petroleum sector challenges
Wale Ajibade, executive director of Sahara Group, said that collaboration between financial institutions, development agencies, trading companies, national oil companies and other stakeholders in Africa would enhance the contribution of intra-Africa solutions to the continent’s trade and project financing challenges
South Sudan commits to strengthen ties with Qatar National Bank
The minister of petroleum of South Sudan visited Abdallah Mubarak Al-Khalifa, the CEO of Qatar National Bank (QNB), in Doha
