Clock ticks on Algeria

Time to ponder the value of its hydrocarbons is a luxury the North African state may no longer have

IOCs have long flirted with Algeria for its attractive hydrocarbons potential, biding their time until contract terms are appealing enough to move forward. But a long courtship may now be unwise. Algeria’s long-standing reliance on oil and gas revenues is well known. But the global energy landscape is changing. Consumers—and producers—are looking to move away from traditional energy sources, not least because of the effects of the global pandemic on demand forecasts and prices. Algeria cannot afford this transition in its current state although, paradoxically, it is what it needs to do most. In its absence, it has little choice but to hope for one last oil boom, but the prognosis for a stabl