Political turmoil is taking its toll on Algeria's oil and gas industry. The murky politics of Abdelaziz Bouteflika, the country's President who announced his resignation on April 3rd, threw several Sonatrach deals and plans into disarray.

Several deals have changed hands

 

After looking for a partner, Sonatrach suspended plans for a trading joint venture that was in its final stages, Bloomberg reported. But sources said Sonatrach had only slowed the process of establishing the joint venture, not abandoned it entirely, and that the plan would be put back on the agenda once Algeria stabilised. But this is not the only business plan affected

 

Talks between EXXON and Algeria to develop the country's gas fields have also stalled, Reuters said. Exxon Mobil and Sonatrach are understood to be in talks to "finalise the details" of a partnership to develop shale gas fields in the south-west of the Ahnet basin, but the civil unrest has caused us companies to suspend trading.

 

Sonatrach's bid for a stake in the Greek oil company, the country's biggest refiner, has also been "quiet". As of the first week of April, Greece has yet to receive a binding offer, according to CNBC news. In addition, the BP (BP) Equinor, Norway's national energy companies and many other international energy companies, such as political turmoil in Algeria may negatively impact the country's oil and gas industry.

 

 

 

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