Algeria Sees Oil and Gas Output By Foreign Partners Dipping, APS
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Algeria expects a slight decline in oil and natural gas produced by foreign firms in the north African nation as a result of an output decline in some fields, the chief executive officer of state-run Sonatrach said.
Abdelhamid Zerguine also said the economic crisis in Europe is prompting the company’s clients to seek discounts “because they can’t sell the gas and generate their profit margin,” according to the state-run APS news agency. He said the company was not under pressure to revise the price of gas delivered under long-term contracts.