Algeria

Naguib Sawiris, the billionaire head of Egyptian cell phone group Orascom Telecom, has approached Vivendi about a possible telecoms tie-up but the pair failed to agree on price, Les Echos said on Friday.

Saudi Arabia persuaded OPEC to raise oil output by 500,000 barrels per day on Tuesday in a gesture to consumer nations worried by the economic impact of $77 oil and rapidly diminishing fuel stocks.

Italy's Edison plans to invest more than 4.5 billion euros ($6.17 billion) by 2013 mostly in gas, foreign activities and renewable energies, the utility's Chief Executive told a newspaper on Sunday.

Norwegian Statoil (STO) opened up its first exploration well on land in the Sahara Desert in Algeria, the company said on Thursday.

The OPEC crude basket price, a daily reference level based on the prices of 11 crudes - dropped to $55.99 on Thursday from $56.23 the previous day.

OPEC member Algeria unveiled long-awaited amendments to a reform of its hydrocarbon sector on Saturday that limit foreign participation in exploration and production and impose a windfall tax on surplus profits.

When Chinese investors bought struggling copper producer Chambishi Mining Plc, miners in this Zambian town gave them a heroes' welcome for averting its closure and for creating more jobs.