Energy: Call for relaunch of American investment in Algeria
APS : Thursday, 15 December 2016
HOUSTON (U.S.A)- The Algerian-American forum on Energy, maked by the participation of big American oil companies, was an opportunity for Algeria to call for the relaunch of American energy investment, dropping since 2010.
Energy investments of American companies recorded a significant decline over the last years, dropping to USD100 millions in 2015 after reaching USD600 million in 2010.
The shale gas and oil booming in the United States has heavily weighed on Algerian exports to this country which are today at a modest level, at around two billion dollars in 2015, according to the numbers provided by the minister of Energy Noureddine Bouterfa.
The minister said that the forum is meant “to shed light on the opportunities, even the less obvious ones, that Algeria and the United States can seize to strengthen their cooperation and their business.”
He added that Algeria is leading “a dynamic of development that the President of the Republic Abdelaziz Bouteflika stimulated on the basis of an effective transition of an economy strongly based on the revenues of hydrocarbons and on public expenditure towards a diversified and wealth- creating economy.”