- •Shell and Statoil were awarded licenses by Algerian Energy Ministry to explore oil blocks.Shell bid for a 19% stake; Statoil 30%. Sonatrach has the highest stake with 51% .
- Domestic energy consumption of energy is expected to increase in Algeria. The country would have to create a more investor-friendly environment.
- A new law offering incentives on tax and contracts has been passed, to encourage investment in the country’s oil and gas sector.
- Shell announced a robust financial report card for Q2. Q3 results are expected by the end of October.
- Statoil has indicated that the first round of exploratory activity in these oil blocks is expected to last till 2017.