Ouyahia: Algeria will keep 49/51 rule

Algeria’s Prime Ministry Thursday said the amendment of hydrocarbons law will not touch any sovereignty-related article including the 49/51 rule.

“It was announced that the hydrocarbons law opened door to many speculations. Because of that, it is useful to point out that this amendment will not touch any sovereignty issue including the 49/51 rule. So, wait for the draft law before commenting it,” said the ministry in a release posted on its website.

This comes in response to criticism made by the leader of Workers’ Party Louisa Hanoune to the amendment of hydrocarbons law.

Hanoune said “the government tries to give hydrocarbons sector to foreign companies for free.”

Earlier, Prime Minister Ahmed Ouyahia and energy minister Mustapha Kitouni said it is necessary to amend the hydrocarbons law to attract foreign companies.