The limbo in Algerian politics is throwing its weight on the oil and gas industry in the country, which represents 95% of the North African country’s revenues. After reports of strikes in some oil and gas field, ExxonMobile halted talks with Algeria’s hydrocarbon giant Sonatrach as protests continue to simmer across the country, Reuters reported. The Texas-based company had entered into negotiations with Sonatrach to develop a gas field in the Ahnet basin in southern Algeria. The US company fears that the ongoing purge against figures turning in the orbit of infirm Bouteflika may affect the CEO of Sonatrach Abdelmoumen Ould Kaddour. In a lower production and higher domestic demand scenarios, Algeria will cease exporting all together, therefore importing gas beyond any such a point.

Source: The North Africa Journal March 21, 2019 13:52 UTC