Algeria is mulling over luring in international oil companies with tax incentives in a new energy law aimed at stimulating the North African country’s oil and gas industry. The government is already in talks with BP and Anadarko to explore its shale gas resources, too, Algerian officials said this weekend as quoted by Reuters. Oil and gas together account for 95 percent of Algeria’s export revenues and contribute 60 percent to its annual budget. The country suffered its share of pain after the 2014 price collapse, but now things are beginning to look up as international prices recover. This weekend, speaking at an energy conference in Oran, Algeria’s Energy Minister Mustapha Guitouni said “We will remove all obstacles, wage a battle against bureaucracy and change tax procedures. The amendment is required by our energy security. The current system must change.” The last time Algeria held a tender for oil […]