ALGIERS, Nov 2 – Algeria plans to start linking taxes on foreign energy firms to profits instead of turnover, according to draft amendments to its hydrocarbons law aimed at making the sector more attractive to investors. The draft, obtained by Reuters, also offers fiscal incentives for companies wishing to invest in unconventional energy resources and offshore exploration. The amendments maintain state energy firm Sonatrach as a majority partner in all…

One of 3 North African countries leading  renewable energy development programs, Algiers is hosting a solar trade fair in May. Algiers will be the place to be for utility-scale solar developers this May. The German trade fair specialists Messe and their Algerian daughter company in Algiers will hold a solar trade fair at the Palais des Expositions d’Alger from 7 to 10 May, 2012. As one of three North African desert…

Privatisation plans for the power industry in the Middle East and North Africa will attract capital investment of up to $525 billion from the private sector in the next five years, according to a report. More than two-thirds of the energy capital investment potential is located in Saudi Arabia, UAE, Iran, Qatar, and Algeria which will help to produce the additional 106.4 gigawatts of electricity planned for the region between…

Algeria’s review of its energy legislation will not include scrapping a rule that gives the state energy firm a majority share in all upstream projects, the official news agency quoted Energy Minister Youcef Yousfi as saying on Wednesday. The review will involve linking taxes on foreign investors to profits instead of turnover, though a windfall tax is likely to remain, according to an official source close to the Algerian energy…

Despite aggressive demand-management policies announced in recent years, China’s oil use could easily reach levels comparable to today’s U.S. levels by 2040, according to a new energy study by the Baker Institute. The study’s authors said this finding has timely significance because China’s growing energy use could continue to pose a major challenge for global climate deliberations in South Africa this week. The study, “The Rise of China and Its…

NEW DELHI : Amidst rising fuel prices and environmental issues, India government plans to launch a national biomass programme to meet the country’s energy needs through renewable sources. The project will be on the lines of Jawaharlal Nehru National Solar Mission (JNNSM) under which the Government is planning to produce more than 20,000 MW of power from solar energy resources by the year 2020. According to Confederation of Indian Industries…