Algeria News
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Petrofac Ltd., the U.K. oil and gas services provider, expects “modest” growth in profit this year after the startup of the In Salah gas project in Algeria was pushed back into the second half.
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The Organization of Petroleum Exporting Countries will increase crude exports this month to meet rising demand from Asian refiners, tanker tracker Oil Movements said.
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Grain exports from the French port of Rouen, Europe’s biggest wheat-shipping hub, fell 65 percent to the lowest weekly level since December after deliveries to Algeria dropped and a barley cargo to Israel wasn’t repeated.
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Desert locusts in Israel hatched and formed groups of juveniles known as hoppers for the first time in more than 50 years, the United Nations’ Food & Agriculture Organization reported.
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VimpelCom Ltd. Chief Executive Officer Jo Lunder said the mobile carrier will stick to its Wind Telecomunicazioni SpA unit, keeping the Italian asset off limits to former owner Naguib Sawiris, the Egyptian billionaire who is seeking to re-enter the market.
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VimpelCom Ltd., the wireless carrier owned by Russian billionaire Mikhail Fridman and Norway’s Telenor ASA, improved first-quarter profitability after adding users in former Soviet republics and Italy and cutting costs.
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As Anadarko Petroleum Corp. Chairman Jim Hackett steps down and heads off to Harvard Divinity School, Chief Executive Officer Al Walker’s biggest challenge is convincing investors nothing will change at the $45 billion global oil explorer.
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OPEC’s spare crude oil production capacity will surge 25 percent in the next two years as rising U.S. shale output crimps demand for the group’s supplies, the International Energy Agency said.
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The U.S. shale boom will send “shockwaves” through the global oil trade over the next five years, benefiting the nation’s refiners and displacing OPEC as the driver of supply growth, the IEA said.
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French soft-wheat exports, the European Union’s biggest, rose 12 percent in March as higher shipments to Morocco and Spain more than made up for lower deliveries to Algeria and Italy, customs figures showed.
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