Algeria getting tough on investors
Dec 24th
Algeria is implementing a new investment strategy to promote home-grown industry, even if that risks deterring foreign investors, the head of the country’s main business lobby said.
Government measures adopted this year have set fresh caps on foreigners’ shareholdings and, analysts say, signal growing economic nationalism in Algeria, a big exporter of oil and gas. More >
Algeria must beat Slovenia to reach second round: Zidane
Dec 24th
French Algerian Zidane, who captained French soccer team in 2006
According to Zinedine Zidane, the Algerian national team could make the second round at next summer’s World Cup in South Africa but will have to go through Slovenia to make it possible.
“If they beat Slovenia, yes [they can progress]. After that it’s going to be England and then it could come down to the United States. There are lots of quality players. A World Cup transcends one player. In 2006, I was done at Real Madrid but I realized an enormous World Cup,” he explained while speaking to France Football.
Meanwhile, the former Real Madrid star was asked if he would be willing to offer a helping hand to the team if he was invited by their coach, Rabah Saadane, and his response was rather intriguing. More >
Chinese petroleum company wins Algeria oil permits
Dec 20th
Image via Wikipedia
Algeria’s Energy Ministry on Sunday awarded three exploration licenses out of 10 permits on offer, the head of its licensing committee Djilali Takherst said.
The licenses were awarded at a public session to select the winning companies in a bid round. In Algeria’s last licensing round, only four out of 16 permits initially on offer were granted.
Sunday’s round saw a consortium led by China’s CNOOC win the Hassi Bir Rekaiz permit, while a consortium headed by Total was awarded the licence for Ahnet and Spanish Repsol and its partners got the South-East Illizi permit, Takherst added. More >
Algeria confirms to keep OPEC supply unchanged
Dec 20th
Image via Wikipedia
ALGIERS, Dec. 20 (Xinhua) — The Organization of the Petroleum Exporting Countries (OPEC) is likely to leave the daily production quota of crucial oil unchanged, said Algerian Energy and Mines Minister Chakib Khelil on Sunday.
OPEC’s 12 member countries will hold a meeting on Tuesday at ministerial level in Luanda, the capital of Angola, to discuss the current status of the international oil market and the bloc’s future policies on oil production.
“There will be no change in OPEC supply of crude oil. OPEC will not reduce supply and it will not increase supply,” Khelil said before leaving for Luanda. More >
