Related Articles
Forward article link
Share PDF with colleagues

Algeria’s upstream rebirth is interrupted

A promised rejuvenation of the hydrocarbons sector and state oil company has been stopped in its tracks

Algeria’s long-awaited new hydrocarbons law became one of the first on the statute books days after the appointment of a new government in January. Yet just months later the revival of the company’s upstream looks to have ground to a halt. With coronavirus ripping through the global economy and oil prices plumbing 17-year lows, president Abdelmadjid Tebboune issued an order that the state budget be reduced by 30pc. As part of that order, state-owned Sonatrach has been told to slash in half its planned expenditure for 2020. Passage of the law, which languished on the drawing board for years, signalled the priority given to attracting renewed foreign investment in Algeria to boost stagnant oi

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from Canada: Keystone XL’s demise a fiasco and opportunity
26 January 2021
The Canadian oilsands industry should now be clear where it stands and plan accordingly
Russia benefits from standing its ground in oil price grey zone
25 January 2021
Saudi sacrifice shows greater appetite for compromise in a price environment that is not win-win for the two Opec+ heavyweights
Oman runs hard to stand still
25 January 2021
The sultanate’s long-term oil ambitions are modest, but the urgent appetite for fresh gas supply remains
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video