In a long-running spat with Morocco over the Western Sahara, Algeria has moved to halt all natural gas exports to Spain through Morocco. That move comes only a few months after Algeria cut diplomatic ties with its neighbor. Typically, Morocco would benefit from 1 billion cubic meters of gas from Algeria. Morocco’s government is shrugging off this latest diplomatic salvo from Algeria, suggesting that the 10% of electricity this gas powers can be replaced without much risk. Just a day after this move, Algeria claimed that three truck drivers had been killed in a bombing outside of Mauritania, blaming the attack on Morocco. The US has recognized Morocco’s sovereignty over the Western Sahara and controls approximately 80% of the territory. Algeria supports the Polisario Front, which is fighting for independence in the Western Sahara.
Sudan is now facing a civilian revolt following the military’s October 25th coup, with the United Nations now attempting to broker a renewed power-sharing agreement before a revolt hits a point of no return. Coup leader General Abdel Fattah al-Burhan may be forced into power-sharing regardless, as civilian riots against the military’s move prove much more serious than anticipated.
Deals & Discoveries
Continental Resources, Inc (controlled by big-time wildcatter Harold Hamm) has secured a $3.25-billion cash deal to acquire Permian assets from Pioneer Natural Resources in the Delaware Basin.