Petroleum Africa
Find us on: 
Monday, July 4, 2016
Total is the latest firm to seek arbitration against Algeria over the windfall tax the government instituted in the mid-2000s. The windfall tax changed the terms for profit-sharing on oil and gas production.
Firms like Anadarko and Maersk sought arbitration early on and saw settlements with the government in 2012.
According to the French firm’s CEO, Patrick Pouyanne, the company tried to come to a mutually beneficial agreement, but failed. “…so we decided that we would seek arbitration,” according to a Reuters report.
“There are talks with states a bit everywhere. There’s nothing particularly because it is Algeria,” he said, adding that it was “business as usual.”
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
