Latest updates from the Algerian business ecosystem
Oil prices rose by more than 3% and are on track to achieve weekly gains, according to media reports on Friday. Brent crude futures increased by $3.41 or 3.2% to $109.34 per barrel by 16:41 GMT, while West Texas Intermediate crude futures rose by $2.74 or 2.8% to $100.67, surpassing the $100 mark for the first time since September 21.
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The port authority of Mistergham has set December 31, 2026, as the final deadline for completing the transfer of the import of utility vehicles and activities of self-employed contractors to other national ports, with the process to be gradually implemented within a period not exceeding 15 days, as part of the reorganization of port activities and the allocation of Mistergham Port for import operations directed at public institutions and companies. The authority announced in a statement that its general director chaired a broad awareness meeting last Thursday with the participation of economic operators and partners active in the port community, and in the presence of the head of the customs inspection department for the province of Mistergham, to discuss the necessary organizational and logistical arrangements for implementation.
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The CEO of SONATRACH, Nourredine Daoudi, along with a high-level delegation, participated in the 19th edition of the 'Algerian Energy Day' event, held at the 'Lake Charles' event center in the US state of Louisiana from October 12 to 16, according to a statement from the group released today, Friday. According to the statement, this edition was dedicated to discussing the historical cooperation relations between Algeria and the United States in the energy sector and investment opportunities in the oil and gas sectors, as well as the potential for developing renewable energies.
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Algeria's crude oil production surpassed one million barrels per day in September 2026, recording 1.003 million barrels, maintaining this level for the second consecutive month for the first time in over three years, amid expectations of continued increases during the last two months of the year, driven by easing voluntary production cuts within the OPEC+ alliance. According to data from the Organization of the Petroleum Exporting Countries (OPEC), Algerian production rose to about one million and 3 thousand barrels per day in September, compared to one million barrels per day in August, after remaining below this level since April 2023. This increase is part of a gradual trend that began at the start of this year, coinciding with the implementation of the alliance's plan to eliminate production cuts.
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The CEO of SONATRACH, Nourredine Daoudi, discussed with officials from the American companies 'Baker Hughes' and 'KBR' in Houston, USA, the prospects for cooperation in the fields of energy technologies, engineering, innovation, and industrial project development, according to the group.
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AL24 News - Decline in Dollar Prices Amid Uncertainty Over US Monetary Policy Directions - news
al24news.dzThe IMF has raised its growth forecasts for the economies of Sub-Saharan African countries to 4.5 percent for the years 2026 and 2027, up from 4.3 percent in its previous estimates. The fund explained in its report on 'Regional Economic Outlook Updates' for Africa in October 2026 that the increase in growth forecasts reflects the region's economies' ability to adapt to global supply chain disruptions and local economic reforms. Despite the improved growth forecasts, the report noted disparities in economic performance among countries in the region, with resource-rich economies continuing to show some resilience, while countries less dependent on natural resources face a slowdown in the pace of economic activity.
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Oum El Bouaghi - The Minister of Housing, Urban Planning and the City, Mohamed Tariq Belaribi, confirmed today, Monday in Oum El Bouaghi, that 'all requests for the housing program under the lease-to-own scheme (ADL 3) will be handled in this wilaya within the next 24 months.'
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The national competition for the best smart tourism innovation (IA Tour Algérie 2026) resulted in 11 projects winning, according to a statement from the Ministry of Tourism and Handicrafts, today Friday.
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The Minister of Foreign Trade and Export Promotion, Kamel Rezig, discussed with the Ambassador of the Sultanate of Oman to Algeria, Saif bin Nasser bin Rashid Al-Badawi, and the Chairman of the Board of Directors of the Suhail Bahwan Group, Saad Suhail Bahwan, opportunities to expand trade exchanges and enhance economic partnerships between the two countries, focusing on the role of economic operators in promoting bilateral cooperation and opening new horizons for investment. The meeting took place on Thursday in Algiers, as part of efforts to develop trade and economic relations between Algeria and the Sultanate of Oman, according to a statement from the Ministry of Foreign Trade and Export Promotion. Watch the full content on Echourouk Online.
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The Minister of Foreign Trade and Export Promotion, Kamal Rziq, along with ministry officials, listened to a presentation on the digital system dedicated to managing administrative correspondence, yesterday Thursday at the ministry. The presentation covered various stages of processing correspondence, starting from its registration and referral to the relevant departments, up to monitoring its processing, ensuring tracking of its path and improving coordination between the various departments of the ministry. On this occasion, the minister confirmed...
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U.S. crude oil and distillate inventories fell last week, while gasoline stocks rose. The U.S. Energy Information Administration reported Thursday that crude oil inventories fell by 8.6 million barrels to 415.6 million barrels for the week ending October 9, adding that crude oil inventories at the Cushing distribution hub in Oklahoma rose by 1.9 million barrels during the week.
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