Algeria | Business Upturn

OPEC+ likely to approve 206,000 bpd oil quota increase at Sunday meeting: Report

Rashmi Pandey — Wed, 29 Apr 2026 17:55:25 +0000

OPEC+ is likely to approve an oil production quota increase at its Sunday meeting, with quotas expected to rise by 206,000 barrels per day, excluding the United Arab Emirates’ 18,000 bpd share, according to sources cited in recent reporting.

The proposed move would continue the group’s cautious return of supply after earlier adjustments and pauses. The eight-member OPEC+ coalition has already been managing output in measured steps, citing low oil inventories and a stable global economic outlook in previous decisions.

The reported increase comes as producers remain under pressure to balance market stability with geopolitical risk. Earlier OPEC+ statements noted that the group would keep flexibility to pause or reverse production changes if market conditions shifted. The latest proposal appears to follow that same approach, allowing for a modest increase without a broader, faster unwind of cuts.

The UAE’s share is expected to be excluded from the reported 206,000 bpd figure, leaving the increase to be distributed among the other participating members. That detail has drawn attention because the UAE’s quota has been a sensitive issue in past OPEC+ negotiations.

The meeting is being closely watched by oil traders and energy analysts because even a relatively small quota change can affect price expectations when global supply is already being shaped by conflict risks and shipping disruptions in the region. Market participants are also watching how the group balances its response to demand conditions with ongoing regional tensions.

If confirmed on Sunday, the move would signal that OPEC+ still prefers gradual adjustments rather than a sharp shift in output policy. For now, the expected increase points to a modest easing of supply restraints rather than a major change in the alliance’s overall strategy.

China criticizes U.S. veto of UN ceasefire resolution in Gaza

Aishi Saha — Wed, 21 Feb 2024 16:07:06 +0000

China has condemned the United States for vetoing a United Nations Security Council resolution that called for an immediate ceasefire in Gaza. The move, according to Beijing, sends the “wrong message” and effectively permits the “continued slaughter” in the region. The resolution proposed by Algeria received backing from 13 out of the 15 Security Council members, with the UK choosing to abstain. However, under the council’s rules, any resolution vetoed by one of its five permanent members, including the U.S., is immediately discarded.

Tensions between Israel and Hamas have escalated following the eruption of conflict in Gaza, triggered by a Hamas attack on southern Israel in October. The ensuing Israeli military campaign has resulted in a significant loss of life in Gaza, with over 29,000 people reportedly killed and many more displaced. The situation has led to a humanitarian crisis, with a considerable number of displaced Palestinians seeking refuge in Rafah, a city bordering Egypt.

China’s criticism of the U.S. veto underscores the international community’s concern over the ongoing violence and its potential ramifications for regional stability. China’s UN ambassador, Zhang Jun, denounced the U.S. claim that the resolution would interfere with diplomatic negotiations as “totally untenable.” He emphasized the urgent need for a ceasefire to prevent further bloodshed and destabilization in the Middle East.

Algeria’s top UN diplomat expressed disappointment over the Security Council’s failure to adopt the resolution, urging members to reflect on their decision. Meanwhile, some U.S. allies, including France, lamented the lack of consensus on the resolution, given the dire humanitarian situation on the ground.

In response to Algeria’s proposal, the U.S. has put forward its own resolution calling for a temporary ceasefire and the release of hostages held by Hamas. The resolution also urges the lifting of barriers on aid reaching Gaza. However, the U.S. decision to block Algeria’s resolution has drawn criticism from various quarters, with concerns raised about the potential consequences of prolonging the conflict.

As diplomatic efforts continue for a ceasefire, the situation in Gaza remains precarious. The failure to reach a consensus at the UN Security Council underscores the complex geopolitical dynamics at play and the challenges in finding a resolution to the longstanding conflict between Israel and Hamas. As the international community grapples with the fallout from the veto, the urgent need for a cessation of hostilities in Gaza becomes increasingly apparent.

India embarks on ₹60,000 crore overhaul to propel Su-30MKI fleet into technological excellence

Gowri Jagadish — Wed, 21 Feb 2024 13:55:43 +0000

India’s fighter jets will enter a new era of technological capability with the planned extensive overhaul of the Sukhoi Su-30MKI fleet. The Defence Research and Development Organisation (DRDO) is assisting Hindustan Aeronautics Limited (HAL) and the private sector in this enormous project, which is valued at an astounding ₹60,000 crore.

A major step forward for the “Make in India” strategy, the project was authorised by the Defence Ministry last year, and HAL has been tasked with spearheading the modification. The overhaul will be completed in two stages: the first will integrate new radars and avionics, and the second will improve the flight control systems.

Developments in Radar and Avionics:
The Indian Air Force expressed reservations about the Su-30MKI fleet’s antiquated avionics and radar systems, which will be addressed in the project’s first phase. The initiative, which demonstrates India’s commitment to self-reliance in defence technology, entails swapping out several equipment of Russian origin for indigenous ones.

To overcome the limits of older-generation radar technology and allow fighter jets to detect and strike targets from substantially larger distances, a new indigenous radar system will be created. The action is intended to guarantee that the Indian Air Force can compete with enemies.

Native Combat Edge Systems:
The primary focus of the update is to improve the aircraft’s combat capability by incorporating native systems into the platform. A new electronic warfare system will be implemented as part of this to jam incoming threats and obstruct enemy communications. Improved engagement capabilities with air-to-air and air-to-ground targets will also be achieved through the use of new domestic Infra Red Search and Track systems.

The extensive overhaul is expected to strengthen the Su-30MKI fleet’s standing as a potent force in the area and fulfil the changing demands of contemporary combat.

Accelerating the Improvement:
In order to hasten the renovation of its whole fleet of Sukhois, the Indian Air Force has placed the project on high speed. About ninety fighters are scheduled for the initial phase of improvement, which will concentrate on avionics and radars. The first phase of the project is anticipated to begin this year. Significantly, the entire refurbishment procedure will take place in India, demonstrating the country’s technological prowess and dedication to independence.

Prospects for the Economy and Exports:
The project offers substantial economic prospects in addition to strengthening India’s defence capabilities. The upgrades provide a sizable export market, with over 600 Su-27/30 aircraft in service in several nations, such as Vietnam, Malaysia, Indonesia, and Algeria. The Su-30MKI fleet’s achievements have the potential to establish India as a major player in the international defence industry.

Along similar lines, last year an extra ₹11,000 crore deal was authorised for 12 Su-30MKI planes, which HAL is expected to produce using more than 50% indigenous components.

Algeria refuses French request to use its airspace for military operation in Niger

Sidharth Badlani — Tue, 22 Aug 2023 11:11:06 +0000

According to state radio, Algeria has rejected a French request to utilise its airspace for a military action in Niger.

According to state radio, Algeria rejects any foreign military intervention in neighbouring Niger and supports diplomatic efforts to restore constitutional order.

The Economic Community of West African States (ECOWAS), the largest regional organisation in West Africa, announced last week that it has decided on an unnamed “D-Day” for a potential military intervention if diplomatic attempts fail. This escalation might further destabilise an already unstable and impoverished region. According to a government source acquainted with the matter, Algeria has frequently stated that it is opposed to any foreign military engagement in the Sahel region because it fears the effects, such as an inflow of migrants into its territory.

The source, who wished to remain anonymous, told Reuters: “We are against the coup but we are against a military action that would worsen the situation in Niger and elsewhere in the Sahel.” An inquiry for comment was not immediately answered by French officials.