Algerian parliament approves new hydrocarbons law

Algeria’s long-awaited hydrocarbons law revisions were finally approved by parliament on 21 January, five months after the law was adopted by the government and Council of Ministers. Some international oil executives gave them a cautious welcome, while others said the new terms were too little too late. The revised text was passed by an overwhelming majority of deputies, who voted to amend 58 articles and introduce nine new ones to Law 05-07.