More work to do for Algeria
A new energy minister and a new Sonatrach investment plan are still not enough to make Algeria attractive to IOCs
For a government keen to bolster the image of its oil industry in the eyes of wary foreign investors, sacking a popular energy minister is not necessarily the way to go. Yet that is what Algeria did in May, dumping Noureddine Boutarfa, despite his high-profile and lauded role in sculpting Opec's recent production cuts agreement. The new minister is Mustapha Guitouni. Boutarfa's unexplained removal came as Algiers sought to persuade international oil companies (IOCs) to get involved in an ambitious oil and gas expansion programme. But those firms will likely remain wary, put off by political uncertainty, onerous investment conditions and the ever-present risk of terrorism. The Sonatrach plan
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