Algeria Approves More Restrictive Hydrocarbons Law

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The Algerian parliament has approved a new hydrocarbons law that effectively reverses much of the liberalisation contained in 2005 legislation. Overall, while it is in line with global trends towards more national control of energy resources, BMI believes that the legislation will not imperil plans to expand output to 2mn barrels per day (b/d) by 2010 (from 1.35mn b/d in September).