Algeria: law of hydrocarbons is no longer attractive for foreign investors, PM Ouyahia says..

  • 03 October 2017 / News / 369 / Emerging Africa


Algeria: law of hydrocarbons is no longer attractive for foreign investors, PM Ouyahia says..

Algerian Prime Minister, Ahmed Ouyahia, said Sunday in Arzew (Oran) that the law of hydrocarbons is no longer attractive for foreign investors, APS reported.


“This law should be attractive, especially since the international market has changed a lot,” said the Prime Minister, stressing “the need to revise the law on hydrocarbons because the sector is undergoing major changes in the world, obliging Algeria to get in tune “.In a statement on the sidelines of the inauguration of two LNG tankers, Ouyahia said that many foreign investors interested in the hydrocarbon sector in Algeria have tendered but have withdrawn finding that the current law on hydrocarbons did not provide the necessary facilities.

In passing, he cited the example of the United States of America, one of the customers of Algerian gas which achieved self-sufficiency by exploiting shale gas and Qatar which found a path to the European and Mozambique market which discovered an immense natural gas deposit.

About the national oil group, Ahmed Ouyahia said that Sonatrach has experienced a “disruption”, believing that “this company and its executives have been victims”.

“It is up to the story to provide an answer on what this group is about, considered as the backbone of the national economy today and in the twenty years into the future, “he added.

Mr. Ouyahia was accompanied on his visit to Oran by a delegation composed of the Minister of Energy, Mustapha Guitouni, the Minister of the Interior and Local Government, Nouredine Bedoui, and the Minister of Public Works and Transport , Abdelghani Zaalane


source: dzbreaking

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