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Troubled times for Algeria's Sonatrach oil firm

Poor fiscal terms, scandals and political insecurity are undermining Algeria's upstream and the hopes of its state oil firm

Algeria, historically an oil and gas powerhouse, is in trouble. Unattractive financial terms, the taint of recent corruption allegations within the state-controlled firm Sonatrach and security concerns are all pushing foreign investors away. Algeria is the largest natural gas producer in Africa and the third largest oil producer on the continent. For four decades, Sonatrach, founded in 1963, has been a key energy supplier to Europe. But now the company's position is being threatened by Algeria's ailing oil and gas production, rising domestic consumption and a lack of investment in its upstream sector. Sonatrach owns around 80% of the country's producing assets, but a number of (IOCs), inclu

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