- Talks between Exxon Mobil (XOM +0.5%) and Algeria to develop a natural gas field in the country have stalled because of domestic unrest, Reuters reports.
- XOM started talks with Algeria’s Sonatrach several months ago to develop a field in the Ahnet Basin as part of deepening ties between the two companies that followed last May’s acquisition of XOM's Augusta refinery in Sicily by the Algerian national oil company, according to the report.
- Officials from the two sides held talks in Houston last week to work out details but XOM is said to have suspended the discussions, at least temporarily, due to the recent protests in Algeria over Pres. Bouteflika’s 20-year rule.