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ALGIERS-The oil market is expected to return to its balance in the second half of 2020, especially as many countries are lifting the lockdown imposed by the new coronavirus pandemic (Covid-19), said Thursday Energy Minister Mohamed Arkab.

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ALGIERS - Algeria’s proven oil reserves are 1,340 million tonnes, or 10 billion barrels, Minister of Energy, Mohamed Arkab said on Sunday.

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ALGIERS- Minister of Energy, Mohamed Arkab said Thursday evening that Algeria had the necessary means and resources to overcome the global oil crisis, noting that the recent fall in oil prices has not impacted the activity of Sonatrach.

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ALGIERS - Minister of Energy Mohamed Arkab on Tuesday in Algiers chaired a consultation meeting with the CEOs of Sonatrach, Sonelgaz and Naftal and their social partners, in a view to assessing the Covid 19 impact on the sector’s activities, a ministry statement said.

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ALGIERS- Energy Minister Mohamed Arkab said on Sunday in Algiers that consultations were under way with other non OPEC + producing countries to join the oil output cut deal, adding that this would help to rapidly rebalance the oil international markets.

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ALGIERS – Energy Minister Mohamed Arkab on Thursday called on OPEC countries and their allies (OPEC +), meeting by videoconference, to take "decisive and immediate" action, stressing that the oil market is now in an "unsustainable free fall".

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ALGIERS - The Organization of the Petroleum Exporting Countries (OPEC) and non OPEC producing countries, are due to meet  on Thursday by videoconference. The meeting is expected to provide the conditions for balanced oil market, Energy Minister Mohamed Arkab said in Algiers on Wednesday.

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ALGIERS-Algeria, which chairs the presidency of the OPEC Conference, urged Sunday oil producing countries to seize the opportunity of the meeting scheduled on 9 April in order to agree on “an global, massive and immediate” production cut.

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ALGIERS- Minister of Energy, Mohamed Arkab, called Wednesday on OPEC member countries and their allies to bring together the experts of the Joint Technical Committee (JTC) to analyse the current instability of the oil market, caused by the coronavirus epidemic.

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ALGIERS- Energy Minister Mohamed Arkab, chairman of the Opec conference said Friday from Vienna that the 8th non-Opec Opec ministerial meeting had been "very important," the ministry said in a statement. 

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