Algerian energy minister says the country won’t let Oxy sale of GB to Total proceed.
4 replies (most recent on top)
Sounds like a great plan to me, go Algeria! Yeah buddy, make sh-- happen! Oil and LNG is for pussies!
Bunker Spreckels
Algeria doesn’t want the French bureaucracy taking over strategic assets and extend their reach in there...they rather see an aggressive and nimble operator that can really bring value and affect the bottom line. A smaller operator from the permian perhaps?
They better let Total take Algeria.
We have few people working the asset and if by any chance this part of the deal gets messed up by the Algerian government then Total will still buy the rest of Africa and Oxy will need to come up with the cash.
Which then means, Oxy will need to come up with the difference by selling additional assets resulting in more job losses than the few in Algeria joint venture with APC expats and Woodlands office support.
He said they would consider blocking it due to the fact there is no contract between APC and Total. They just need a response from APC on the matter. Once Oxy takes over, a contract with APC wouldn't be worth anything anyway. It will go through. Oxy will own the asset at the time of the sale. You're a fool if you think Algeria cares who is operating. Total is already part of the Groupement Berkine JV anyway.