Algeria to Keep Limits on Foreign Energy Investments

Algeria to Keep Limits on Foreign Energy Investments

The Algerian government is planning to maintain current clauses in the energy law that limit foreign stakes in oil and gas projects, Asharq Al-Awsat reported.

An official statement has reportedly emphasized the intention of keeping the 51/49 rule unchanged. After months of speculations, this was the first time for the Algerian government to comment about the planned amendments to the energy law.

Algeria is a member of the Organization of Petroleum Exporting Countries (OPEC) and produces about 1.06 million barrels per day (b/d) of crude oil.

The North African country has reduced its crude production by around 24,000 to 25,000 starting from the beginning of the year, in line with the OPEC+ output cuts.



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