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Sonatrach signs $4bn Berkine deal with majors as Algerian momentum builds

Sonatrach’s new production-sharing contract with Eni, TotalEnergies and Occidental Petroleum for a 100-well campaign to restore and boost output in Berkine Basin blocks 404 and 208 points to a further upturn of activity in Algeria, where the national oil company’s head envisages ‘three or four’ more big upstream contracts by end-2022, writes Dominic Dudley.

Issue 466 - 08 August 2022

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Resilient Opec+ keeps prices up, adding to consumer pain

The extent that markets have shifted since Russia’s invasion of Ukraine in February has been underlined by a surge of energy diplomacy in recent weeks. Complex security issues were integral to United States President Joe Biden’s mid-July fist bump with Saudi Crown Prince Mohammed Bin Salman Al-Saud, but an effort to reduce oil prices was the real agenda-setter.

Issue 465 - 22 July 2022

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