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The ongoing unrest in one of North Africa’s largest oil and gas producers Algeria is reaching boiling point. After weeks of protests from the opposition, aimed at blocking the possible re-election of long-time president Bouteflika, there still doesn’t seem to be a resolution within reach. Even after the sudden withdrawal by Bouteflika from new elections, demonstrations continued.

The long awaited Saudi Aramco acquisition of Saudi Basic Industries Corporation (SABIC) is finally here. With a statement to the press, Aramco CEO Amin Nasser reported that Aramco has acquired a 70 percent stake in SABIC, with an estimated value of $69.1 billion. Aramco’s CEO Nasser reiterated that the “deal is a major step in accelerating Saudi Aramco’s transformative downstream growth strategy”.

Another big step has been taken to end the hydrocarbon era, if the decision by Norway’s sovereign wealth fund to dump oil stocks and investments is a sign on the wall. After the news broke, “fossil free” NGOs and others declared the Norwegian SWF Government Pension Fund (or “Oil Fund”) decision to divest as a major victory for the Green Movement.

Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Most analysts and market watchers are focusing on peak oil demand scenarios, but the reality could be much darker. International oil companies (IOCs) are likely to face a Black Swan scenario, which could end up being a boon for state-owned oil companies (NOCs). Increased shareholder activism, combined with global warming policies of institutional investors and NGOs, are pushing IOCs in a corner, constricting financing options for oil companies.

Libyan officials have stated that the control of the El Sharara oilfield has been handed over by LNA forces to Libyan oil security forces, the state controlled oil guards. Even though Libya’s national oil company NOC is based in Tripoli, which is in the hands of Western and UN-backed Libyan government or Government of National Accord (GNA), the majority of the country’s oil fields are under control of Libya’s General Haftar’s LNA forces. The latter have taken control last week of the field, after negotiating a deal with petroleum guards and local tribes, who had closed down operations at the 315,000 bpd field.