“The price of oil fluctuating between USD70 and 80 a barrel is more just for Algeria,” he said in a press conference organized following the signing of several agreements with the Italian group ENI.
Prices are, currently, between USD60 and 70, which won’t even allow the country and the group to make plans for the future.
When asked about Sonatrach’s results in 2018, Ould Kaddour said that the groups’ receipts will be better than those recorded in 2017.
Concerning the progress of the project on the revision of the law on hydrocarbons, Ould Kaddour said that its elaboration process is continuing in the best conditions while affirming that “Algeria will have a new law on hydrocarbons in 2019.”
Apart from the revision of this text, he said, foreign partners attach a particular interest to Algeria and Sonatrach group, added Sonatrach’s CEO.