Algeria and Egypt seal $1 billion hydrocarbon investment deal
via Alg茅rie3602 min read
Sonatrach, Algeria's national oil company, has signed a significant agreement with Egypt, marking a major step in its development strategy. The deal, overseen by Algeria's Minister of State, Minister of Energy and Mines, Mohamed Arkab, and his Egyptian counterpart, Karim Ibrahim Ali Badawi, includes the launch of Phase II of the Hassi Bir Rekaiz project and a strategic agreement for Egypt's hydrocarbon supply. The signing ceremony, held at Sonatrach's headquarters, highlighted the strong bilateral relations between Algiers and Cairo, with the presence of Sonatrach's CEO and senior officials from the Egyptian, Italian, and Thai oil sectors. The first agreement, valued at over $1 billion, is an engineering, procurement, and construction contract for the second phase of the Hassi Bir Rekaiz development in the Berkine basin. This contract was awarded to a consortium comprising the Egyptian company Petrojet and the Italian firm Arkade. The project will involve building a new crude oil treatment unit with a capacity of 31,500 barrels per day, along with facilities for associated gas and production water treatment. Expected to be completed in 39 months, this project complements the first phase launched in 2019, aiming to significantly boost national production capacities for Sonatrach and its Thai partner PTTEP. Additionally, a memorandum of understanding was signed between Sonatrach and the Egyptian General Petroleum Corporation EGPC to outline future negotiations for the commercia
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Slovenian referee Slavko Vincic has been appointed to officiate the Algeria-Jordan World Cup 2026 match on June 23. This decision has drawn attention due to a past controversy involving Vincic. In 2020, he was present at a party in Bijeljina, Bosnia-Herzegovina, where police seized narcotics, weapons, and other materials. Vincic was questioned as a witness, not a suspect, and stated his presence was due to a professional invitation, calling it a "grave error" and expressing regret. The FIFA was aware of the incident but did not remove him from their lists, and he has since continued to officiate high-level international matches. This appointment comes as Algeria faces a critical second group match, with any contentious refereeing decision expected to be heavily scrutinized. The Algerian team is already under pressure following a controversial match against Argentina on June 17, where Polish referee Szymon Marciniak reportedly overlooked several fouls against Algerian players. The Algerian Football Federation filed an official complaint with the FIFA, which later acknowledged a judgment error by the VAR referees and issued sanctions. The selection of Vincic for the Algeria-Jordan match reignites debate about the FIFA's criteria for appointing referees in high-stakes games, especially when officials have past controversies. This discussion extends beyond Algeria, as several controversial refereeing decisions and the opaque functioning of the centralized VAR system in Dallas hav
Algeria is set to host a significant industrial development in the footwear sector with the establishment of Skechers' first African production facility. The Minister of Foreign Trade and Export Promotion, Kamel Rezig, oversaw the signing of a partnership agreement between the American group Skechers and the Algerian company Tradifoot. The ceremony included Douglas Parker, Skechers' Vice President of Financial Affairs, and Djamel Ramoul, CEO of Tradifoot. This project positions Algeria as Skechers' inaugural industrial base on the African continent. The factory is projected to begin production in the first quarter of 2027, with an estimated capacity of two million pairs of shoes annually. The local integration rate is expected to reach 40%, aiming to reduce import dependency and build an industrial sector around the brand. Beyond manufacturing, the project includes training and skills transfer, with Skechers experts supporting the factory's launch and local workforce development to ensure international standards. The initiative also aims to establish Algeria as a regional industrial and export platform, with plans to export to African markets from the second year of operation. Kamel Rezig highlighted the national strategy to reduce imports through local production and foreign investment, viewing Skechers' choice of Algeria as a sign of growing investor confidence in the country's business environment and economic reforms.
The Romanian Embassy in Algeria, a member of the European Union and the Schengen area, will suspend its visa services indefinitely starting June 25, 2026. This means Algerian applicants for a Schengen visa to Romania will be unable to submit new applications. The diplomatic representation stated in a social media release that the temporary suspension is due to a "vacancy of the consul position." The embassy noted that this is not an unprecedented situation, as visa services have been temporarily closed in the past due to staff shortages. Romania joined the Schengen area on January 1, 2025, formalizing the lifting of border controls. The Romanian Ministry of Foreign Affairs is actively seeking solutions to resolve the situation promptly. The embassy did not specify procedures for visa applications already submitted and expressed regret for any inconvenience caused to applicants.