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Wednesday, October 17, 2018
Abdelmoumen OuldKaddour, CEO of Algeria’s Sonatrach, revealed that the country wants to have a new energy law ready by H1 2019. Kaddour said that inspiration for the change in legislation may come from Mexico’s energy laws.
“A good model of an energy law is Mexico’s as it allowed them to attract $300 billion in investment … definitely this is a good model and I will be very happy to have such a law,” Kaddour said during a visit to the HassiR’mel gas field. He didn’t elaborate on exactly what he found attractive about Mexico’s legislation other than being impressed with the amount of investment it attracted.
New laws have been in the works for some time as the current laws have turned the taps off investment.
Sonatrach has hired consultants to help it to make changes to its hydrocarbon policies.
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