OPEC daily basket price stood at $49.71 Tuesday

ALGIERS, May 17 (AE&B)— The price of OPEC basket of thirteen crudes stood at $49.71 a barrel on Tuesday, compared with $49.72 the previous day, according to OPEC Secretariat calculations.

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Algeria seeing renewed investment in upstream hydrocarbons-OBG

ALGIERS,May 16 (AE&B) –With crude oil production having declined continuously since 2008, Algeria is working to attract foreign investors into its hydrocarbons sector by easing contract terms and ramping up exploration efforts.In March state-owned oil company Sonatrach announced that it had earmarked $9bn to fund oil exploration, which will involve the company drilling an average of 100 wells annually for the next four years.

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OPEC daily basket price stood at $49.72 Monday

ALGIERS, May 16 (AE&B)-- The price of OPEC basket of thirteen crudes stood at $49.72 a barrel on Monday, compared with $48.27 the previous Friday, according to OPEC Secretariat calculations.

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