Algeria signs $5.4bn oil and gas deal with Saudi firm Midad Energy

Algeria's state-owned energy company Sonatrach said on Monday it signed a contract worth around $5.4 billion with Saudi Arabia's Midad Energy for oil and gas exploration and development in Algeria's Illizi Basin. The production-sharing contract...

Saudi Arabia's Midad Energy signs $5.4bn Algeria hydrocarbons deal

Algeria's Sonatrach and Saudi company Midad Energy North Africa have signed a production-sharing hydrocarbon contract for the exploration and exploitation of hydrocarbons on the contractual perimeter of Illizi South, located nearly 100 km south of...

Heavy Rain and Flood Alerts Affecting Algerian Provinces

In a country where drought dominates headlines and water scarcity shapes policy, Algeria now faces the cruel irony of potentially devastating floods. A Nation Caught Between Extremes Algeria’s meteorological warning arrives at a particularly...

Algeria signs $5.4 billion oil, gas deal with Saudi Midad Energy

Algeria’s Sonatrach and Saudi Arabia’s Midad Energy agreed to a $5.4 billion, 30-year oil and gas exploration deal in the Illizi Basin, with full funding from Midad Energy North Africa. [Getty] Algeria's state-owned energy company Sonatrach said...

Algeria signs oil and gas deal worth $5.4 billion with Saudi firm Midad Energy

Sonatrach, the state-owned energy firm of Algeria, announced on Monday that it had signed a $5.4 billion contract with Midad Energy from Saudi Arabia for oil and natural gas exploration and production in Algeria's Illizi Basin. The contract for...

Algeria Launches Major Green Hydrogen Infrastructure Initiative to Energize Regional Markets

Announcing a Game-Changing Partnership At the 13th NAPEC 2025 conference in Oran, Minister Mourad Adjal and the Ministry of Energy and Renewable Energies announced an ambitious push to develop green hydrogen infrastructure and open up regional...

Turkish Airlines, Algerian Airlines ink memorandum of understanding

(MENAFN) Türkiye’s national airline, Turkish Airlines, and Algeria’s flag carrier, Air Algerie, formalized a memorandum of understanding on Friday to advance their strategic partnership. The deal creates a broader framework for collaboration,...

Saudi Arabia’s Midad Energy, Sonatrach Sign $5.4 Bln Illizi Basin Exploration and Development Deal 

Algeria's state-owned energy company Sonatrach said on Monday it signed a contract worth around $5.4 billion with Saudi Arabia's Midad Energy for oil and gas exploration and development in Algeria's Illizi Basin. The production-sharing contract...

Algeria to spend billions preparing for war

The Algerian government has approved a record $25 billion defense budget for 2026 — the largest in the country’s history — amid growing security concerns across the Sahel region, The Clash Report said. According to the report, the 2026 finance...

Sonatrach signs US$5.4 billion oil and gas deal with Midad Energy

Algeria’s state-owned energy company Sonatrach said it signed a contract worth around US$5.4 billion with Saudi Arabia’s Midad Energy for oil and gas exploration and development in Algeria’s Illizi Basin. The production-sharing contract spans 30...

Algeria Plans Major Military Budget Increase for 2026

Algeria is set to approve a substantial increase in defense spending for 2026, marking the largest allocation ever proposed for its armed forces. According to the draft finance law for the coming year, the national defense budget will exceed 3,205...

Algeria’s 2026 Budget Plan: Spending Rises with Emphasis on Salaries, Subsidies, and Investment

Algeria’s draft finance law for 2026 marks a significant increase in public expenditure, with total spending projected to exceed 17.6 trillion dinars. This plan comes amid continued global economic uncertainty, weak international trade, and the...

Hottest place on Earth located in Australia as 'heat engine' cranks into gear

Australia was home to the hottest place in the world this week as the country's "heat engine" cranked up ahead of summer. On Monday, the remote Pilbara station Mardie reached 43.5 degrees Celsius, making it the hottest spot on the planet for the...

Russia sends Yak-130M combat trainer to trials for all-weather training and light attack

United Aircraft Corporation says the first Yak-130M built at the Irkutsk Aviation Plant has entered ground and flight testing, with two more aircraft on the line. The upgrade seeks to push the proven Yak-130 beyond advanced training into credible...

Midad Energy signs 30-year hydrocarbon deal with SONATRACH

Saudi Arabia-based Midad Energy North Africa and SONATRACH have signed a strategic production-sharing hydrocarbon contract at SONATRACH’s headquarters, for the exploration and development of hydrocarbons in Algeria’s Illizi Basin. The agreement,...

Algeria and Egypt agree on reciprocal visits and the swift convening of the joint commission

Algerian President Abdelmadjid Tebboune received a phone call on Wednesday from his Egyptian counterpart, Abdel Fattah el-Sisi, during which they “exchanged views on the situation in the regional environment of both countries and its repercussions...

Australia hosts hottest place on Earth, but don't call it a heatwave

Australia was home to the hottest place in the world this week as the country's "heat engine" cranked up ahead of summer. On Monday, the remote Pilbara station Mardie reached 43.5 degrees Celsius, making it the hottest spot on the planet for the...

Algeria aims to reduce budget deficit by 35% in 2026, despite spending record

Algeria's budget bill shows that it plans to reduce the deficit to $40 billion or 12.4% GDP by 2026. This is despite adopting a record spending plan to support economic growth and boost household incomes. The 2026 budget package is expected to be...

IMF to launch World Economic Outlook today

The International Monetary Fund (IMF) will unveil its latest World Economic Outlook (WEO) on Tuesday (today), October 14, 2025, in Washington, D.C. time, during a hybrid press briefing at the annual meetings of the World Bank/ IMF, in Washington,...

Algeria plans $60bn energy investment over five years

Image by Torsten Asmus/ iStock Algeria will invest $60 billion in energy projects between 2025 and 2029 as part of a large-scale strategy to boost oil, gas and hydrogen development, Energy and Mines Minister Mohamed Arkab said. Speaking at an...