Reverse Liberalisation: Algeria's New Energy Law

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Algeria's Energy and Mines Minister Chakib Khelil has announced plans for a new energy law to take effect by early next year. The law, which Algeria enacted this month, gives state-run company Sonatrach, Africa's biggest company by revenue, a more central role and introduces a windfall tax on international oil companies (IOCs). Effectively a reversal of a planned energy liberalisation programme, the move will find favour with a population suffering deep unemployment, but the change will not be welcomed by foreign oil companies, which have been steadily increasing their share of Algerian production over the past 15