Talks between Exxon Mobil and Algeria to develop a natural gas field in the Nort...
ALGIERS/LONDON - Talks between Exxon Mobil and Algeria to develop a natural gas field in the North African country have stalled because of unrest, industry sources said, the first economic fallout from the almost month-long anti-government protests.
The talks were part of a deepening of ties between the two companies that followed Sonatrach’s acquisition last May of Exxon’s Augusta refinery in Sicily, Italy. Bouteflika had appointed Kaddour in March 2017 to turn around a state company hit by fraud scandals, lethargy and red tape. He has since then managed to rebuild ties with oil majors, some of which had shunned Algeria previously due to tough terms and bureaucracy.
“The minute Bouteflika would leave power, Ould Kaddour would be sacked,” a reliable source familiar with the matter told Reuters last month.
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