Energy minister Youcef Yousfi slams his predecessor over hydrocarbons law

Talking within the framework of his presentation of the new energy policy major guidelines including the renewable ones, energy and mines minister Youcef Yousfi has raised anew the disputed hydrocarbons law five years after its enactment.

• The minister has indicated that Algeria is steadfastly moving towards the preparation of a new strategy to build numerous peaceful nuclear plants to generate power, noting that some major petroleum firms have boycotted the last call for tender launched by the national agency for the promotion of hydrocarbons.
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• The minister has vehemently slashed the text elaborated by his predecessor, Chakib Khellil on account of the record facilities granted to the US petroleum firms for nothing in return.
• The controversial law has urged the former Algerian PM Sid Ahmed Ghozali to declare that the hydrocarbons law issued in July 2005 was 60 page text brought from overseas in  a personal  Algerian suitcase.
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• Prominent oil experts have indicated that Algeria doesn’t need the kind of concessions given by the former minister Chakib Khellil to develop its production capacities as well as its oil reserves that spiked from 700 thousand barrels to 1.5 million barrels in less than 10 years.
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