• 2 days Shell Oil Trading Head Steps Down After 29 Years
  • 2 days Higher Oil Prices Reduce North American Oil Bankruptcies
  • 2 days Statoil To Boost Exploration Drilling Offshore Norway In 2018
  • 2 days $1.6 Billion Canadian-US Hydropower Project Approved
  • 3 days Venezuela Officially In Default
  • 3 days Iran Prepares To Export LNG To Boost Trade Relations
  • 3 days Keystone Pipeline Leaks 5,000 Barrels Into Farmland
  • 3 days Saudi Oil Minister: Markets Will Not Rebalance By March
  • 3 days Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount
  • 3 days Rosneft Announces Completion Of World’s Longest Well
  • 3 days Ecuador Won’t Ask Exemption From OPEC Oil Production Cuts
  • 4 days Norway’s $1 Trillion Wealth Fund Proposes To Ditch Oil Stocks
  • 4 days Ecuador Seeks To Clear Schlumberger Debt By End-November
  • 4 days Santos Admits It Rejected $7.2B Takeover Bid
  • 4 days U.S. Senate Panel Votes To Open Alaskan Refuge To Drilling
  • 4 days Africa’s Richest Woman Fired From Sonangol
  • 4 days Oil And Gas M&A Deal Appetite Highest Since 2013
  • 4 days Russian Hackers Target British Energy Industry
  • 5 days Venezuela Signs $3.15B Debt Restructuring Deal With Russia
  • 5 days DOJ: Protestors Interfering With Pipeline Construction Will Be Prosecuted
  • 5 days Lower Oil Prices Benefit European Refiners
  • 5 days World’s Biggest Private Equity Firm Raises $1 Billion To Invest In Oil
  • 5 days Oil Prices Tank After API Reports Strong Build In Crude Inventories
  • 5 days Iraq Oil Revenue Not Enough For Sustainable Development
  • 6 days Sudan In Talks With Foreign Oil Firms To Boost Crude Production
  • 6 days Shell: Four Oil Platforms Shut In Gulf Of Mexico After Fire
  • 6 days OPEC To Recruit New Members To Fight Market Imbalance
  • 6 days Green Groups Want Norway’s Arctic Oil Drilling Licenses Canceled
  • 6 days Venezuelan Oil Output Drops To Lowest In 28 Years
  • 6 days Shale Production Rises By 80,000 BPD In Latest EIA Forecasts
  • 6 days GE Considers Selling Baker Hughes Assets
  • 6 days Eni To Address Barents Sea Regulatory Breaches By Dec 11
  • 6 days Saudi Aramco To Invest $300 Billion In Upstream Projects
  • 7 days Aramco To List Shares In Hong Kong ‘For Sure’
  • 7 days BP CEO Sees Venezuela As Oil’s Wildcard
  • 7 days Iran Denies Involvement In Bahrain Oil Pipeline Blast
  • 9 days The Oil Rig Drilling 10 Miles Under The Sea
  • 9 days Baghdad Agrees To Ship Kirkuk Oil To Iran
  • 9 days Another Group Joins Niger Delta Avengers’ Ceasefire Boycott
  • 9 days Italy Looks To Phase Out Coal-Fired Electricity By 2025
Falling Iraqi Oil Output Drags OPEC Production Down

Falling Iraqi Oil Output Drags OPEC Production Down

OPEC’s total crude production has…

Can Argentina Replicate The U.S. Shale Boom?

Can Argentina Replicate The U.S. Shale Boom?

Much has been said about…

European-Algerian Natural Gas Pipeline Deal is Delayed Again

European-Algerian Natural Gas Pipeline Deal is Delayed Again

In an effort to reduce reliance on natural gas reserves from Russia and the high prices charged by Gazprom, Europe has been looking to invest in alternative pipeline projects to diversify the supply. One option being considered would see natural gas from Algeria, in North Africa, piped via Sardinia to Northern Italy; however the fate of this project is now up in the air as the date for making a decision regarding its viability has been delayed once again.

The pipeline would provide an 8 billion cubic metre link between Algeria and Europe, and grant the African nation the ability to increase its production and start fracking for shale gas, without worry of looking for a new market. However a series of delays have haunted the progress of the project since its conception ten years ago.

Related Article: Why the US should not Invest in Exporting Natural Gas

First Italian officials deferred making a decision, and now Algeria’s partner in the deal, Sonatrach, has announced that it will not give its final approval in November as planned, but will wait until May 2013. They have insisted that this does not jeopardise the plans, but many in Rome are now wary that the whole venture is dead in the water.

Reuters have reported that Sonatrach is wary due to Italy’s potential involvement in other giant natural gas pipeline projects, and first wishes to see what deals are done in regards to the Trans-Adriatic and South Stream pipeline projects. Unfortunately this might cause even further problems as officials in Rome have just recently said that they will not make any decisions on the other pipelines until September of next year.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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