Algerian interim president Abdelkader Bensalah
IOCs retain Algerian caution
Sceptical Western investors adopt wait-and-see attitude even after Algeria’s interim government agreed a draft hydrocarbons law
Algeria is set to move away from an onerous tax regime that has seen international oil companies (IOCs) stay away in recent years, under a draft law announced in October by interim president Abdelkader Bensalah, who replaced the ousted Abdelaziz Bouteflika in May after weeks of riots. But it remains to seen whether it will be enough to fire potential investors’ enthusiasm. Officials say the law is a return to the IOC-friendly regulatory framework of the 1980s and 1990s, which resulted in rapid growth in oil and gas output. That framework was ditched in 2005, but tighter rules deterred IOCs and saw exploration stagnate. Auctions for exploration licenses flopped in 2010 and 2014, with only si
Also in this section
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
