Algeria makes the right noises to IOCs but Sonatrach remains unstable

Algeria’s lower house of parliament on 14 November approved the long-awaited – but hotly contested – revised hydrocarbons law, in the run-up to a presidential election announced for 12 December by interim president Abdelkader Bensalah. IOCs welcome the changes but will proceed with caution because Algeria remains a tough place to do business.