Algeria makes its peace with IOCs, as Ould Kaddour takes control
Issue 380 - 08 Nov 2018
The late October Algeria Future Energy Summit, held in Algiers, provided the platform for Sonatrach chairman and chief executive (PDG) Abdelmoumen Ould Kaddour to register his control over the hydrocarbons sector and the national company’s closer relations with international oil companies (IOCs) – and notably with European giants, several of whom have been discouraged by Algiers’ stingy terms and faltering policy implementation over the past decade. Ould Kaddour signalled returning confidence in Algeria’s hydrocarbons sector by signing eye-catching upstream agreements, including a deal that could push ahead controversial shale development plans and offshore exploration.
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