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Petrol: US major ExxonMobil wants to set up in Algeria

in AFRICA/ENERGY by

The US major, ExxonMobil, the world’s largest petrol company, plans to set up in Algeria and develop joint projects with Sonatrach, the Algerian oil and gas group CEO, Abdelmoumen Ould Kaddour, has announced. APS at the end of his three-day visit to Houston, the head of Sonatrach said ExxonMobil was “extremely interested” by the investment in Algeria. Ould Kaddour, who had just taken part in the second Algerian-American forum on energy, described his many meetings with executives of American oil companies, including ExxonMobil and Anadarko, as “positive”.

Germany: scandal about exhaust fumes tests on humans and animals reaches Volkswagen top managers

in ECONOMY/ENERGY/EUROPE by

The emissions scandal at Volkswagen will cost a high-ranking group manager the office. Thomas Steg, former spokesman for the Federal Government and today chief lobbyist of the automaker, is giving up his post for the time being. He had offered his release itself, said Volkswagen. The board had agreed to that on Tuesday. Steg was released as a general representative for the group “until the complete clarification of the events of his duties”. With his leave of absence pulls Volkswagen according to own data “first consequences” from the controversial exhaust gas tests, which were recently publicized. Nitrogen dioxide is the focus of the emissions issue. For years, Volkswagen had been manipulating diesel test results in the US in order to cover up the fact that the limits for harmful nitrogen oxides had been exceeded many times over. The group said it would continue to work on the investigation of the controversial emissions tests. “We are in the process of thoroughly examining the work and to draw all the necessary conclusions from it,” said Volkswagen CEO Matthias Müller. “Mr. Steg has declared to take full responsibility”.

Facilitatons to Japanese companies for investing in Pakistan

in Senza categoria by

Prime Minister Shahid Khaqan Abbasi has said that the government will provide full support and facilitation to the Japanese companies that are interested to invest in Pakistan. Talking to CEO of Japan Bank for International Cooperation (JBIC) Tadashi Maeda at World Economic Forum (WEF) in Davos, he hoped that JBIC will support Japanese companies in their investments in Pakistan particularly in the energy sector. He said Pakistan and Japan enjoy a very long and cherished history of economic cooperation that is of immense importance to Pakistan. Shahid Khaqan Abbasi said in the last few years Pakistan has made tremendous achievements towards political stability, law and order, energy security, and economic growth. He said we are hoping that these positive indicators will incite Japanese companies and businesses to enhance their ties. The prime minister apprised that there are 84 Japanese companies currently operating in Pakistan and many more are expected to enter Pakistani market at an exponential rate. PM Abbasi invited JBIC to open its operations in Pakistan. CEO JBIC appreciated the economic stability achieved by Pakistan and expressed interest for investments in Energy and Telecom sectors. JBIC has provided funding for Kohat tunnel-I, II and other infrastructure projects.

Algeria: “Choose France”: the Algerian group Condor Electronics in the big leagues

in AFRICA/TECHNOLOGY by

Condor Électronics and its CEO have just won international recognition by being invited to the “Choose France” operation, launched by French President Emmanuel Macron. He and his fellow Issad Rebrab of the Cevital group (Fagor-Brandt) are among the 140 leaders who count in the world.At the Palace of Versailles Emmanuel Macron has invited the greatest leaders of the planet to invest in France. Of the 140 guests, there are representatives from Coca-Cola, Alibaba, Siemens and also from the Algerian groups Condor Electroniques. Condor Electronics is particularly diversified:tVs, telephones, computers, appliances and even solar panels. The group have 4000 employees in Algeria.

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