Algeria: fair oil price to invite investments in sector

(MENAFN) Algeria's Sonatrach CEO suggested the country's oil price, which reached USD75 per barrel, to attract further investments to be seen in the sector.

CEO Abdelmoumen Ould Kaddour stated "it will allow us to invest in the business, it allows us to explore and renew our reserves. But it is very volatile and we hope that it will continue to be at $75."

Speaking to reporters in Tamanrasset, the chief revealed employees in his firm to be scheduled for a visit to the US a week from now, aiming for a meeting with Exxon Mobil Corp executives for cooperation talks.

He added "we have already met them three times, this will be the fourth (time). I am positive there will be a result soon."


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