• 3 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 6 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 8 minutes OPEC is no longer an Apex Predator
  • 12 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 12 hours Did Saudi Arabia pull a "Jussie Smollett" and fake an attack on themselves to justify indiscriminate bombing on Yemen city population ?
  • 11 hours "We cannot be relying on fossil fuels to burn as an energy source at all in our country" - Canadian NDP Political Leader
  • 12 hours Solar Industry Lays Claim To The 2020s; Kicks Off The Solar+ Decade
  • 7 hours China Downplays Chances For Trade Talks While U.S. Plays ‘Little Tricks’
  • 1 hour California Threatens Ban on ICE Cars
  • 1 min Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 1 day DUG Rockies: Plenty Of Promise, Despite The Politics
  • 20 hours Iran v USA the perfect fire triangle
  • 17 hours U.S. and Turkey
  • 10 hours Shell ‘to have commercial wind farms’ by early 2020s
  • 8 hours Get First Access To The Oilprice App!
  • 1 hour How can Trump 'own' a trade war?
  • 2 hours China, U.S. Hold 'Productive' Trade Talks In Beijing
Alt Text

Meet America’s Newest $9 Trillion Climate Change Solution

Democratic Presidential hopeful and Washington…

Alt Text

A Value Play Too Good To Ignore

The coal industry may be…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Geopolitical Uncertainty Shakes Oil Markets

Politics, Geopolitics & Conflict

- Following the arrest of five Algerian billionaires and members of the political elite close to former president Bouteflika, investor fears are becoming a reality. The one piece of assurance is that the military has long been one of the beneficiary of Sonatrach revenues and measures will be taken to ensure that the oil giant is protected. After firing the CEO of the state-run oil giant Sonatrach and replacing him with the company’s head of production and exploration, the Algerian government is doing its best to assure investors that it’s business as usual and that deals are safe - along with production and development. While there is still no word on whether Chevron will go through with its planned talks with Sonatrach over Algeria’s shale patch (after Exxon bowed out), Sonatrach announced late this week that its new CEO, Rachid Hachichi, signed an MOU with Italy Eni’s CEO on the renewal of a gas supply contract through a Mediterranean pipeline. That move was meant as a message to other investors and potential investors that deals will move forward under the new leadership. In the meantime, keep a close eye on the emerging elite clan warfare in Algeria. Algeria has two influential clans - one representing the presidency and one representing the military - and the billionaires that have fallen were from the presidential clan.

- There have been no significant changes on the Libyan front to impact oil flow…

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News