OPEC: Algeria to continue to play “key role” in all agreements

LONDON- Algeria will continue to play a “key role” in all the agreements of the Organization of the Petroleum Exporting Countries (OPEC), said, in London,
British experts in statements to APS, some days before the holding of the OPEC Conference, scheduled on 30 November 2017 in Vienna.
In this regard, Piers Curran, director at Amplify Trading, a training company in trading and finance, and Anthony Cheung professor at Nottingham Business School and Trent University London, and also a director within the same company, underlined that despite the fact that some OPEC countries, such as Saudi Arabia, Iraq and Iran, dominate the production, Algeria will always remain an influential element in this oil organization.
They said that Algeria is able to impose itself, in the long term, in a new energy and mining mapping with its huge potential in renewable energies, iron ore, phosphates and uranium.
For his part, Elias Boukrami, expert and director of oil, gas and finance programmes at the faculty of Business and management of the Regent’s University London, said that Algeria has played an important role in OPEC-Russia rapprochement, which managed to have a positive influence on oil prices.
He affirmed also that Algeria could have, in the nearest future, a “more important” role, with its geostrategic position and energy potential: “the Algerian shale gas reserves are among the most important in the world, offering a real alternative to be exploited for the energy security of the country and region,” he said.
Concerning the next meeting of Vienna, and on the basis of recent statements of the Russian and Saudi Energy ministers, Anthony Cheung and Piers Curran think that the cut production agreement concluded, nine months ago, will “probably” be renewed in 2018.

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