Algeria's Energy and Mines Minister, Chakib Khelil held a rare open meeting with foreign oil firms and journalists on Wednesday in which he debated the details of a new windfall tax on foreign oil company profits.
Anadarko Petroleum Co.'s chief executive on Thursday said his company was not actively looking for a buyer for its oil exploration and production business in Algeria.
"This is an asset that we have not announced being for sale, in fact we have indicated just the opposite," Anadarko CEO Jim Hackett said at a Bank of America conference in Florida.
Algeria signed a second agreement with the United States Monday (November 13th) for the early payment of $620m, completing the repayment of $1.2 billion of total debt, Finance Minister Mourad Medelci said at a plenary session on the 2007 draft budget. He added that a similar agreement with Germany for early debt payment of $372m will be signed by the end of the week, completing the repayment of Algeria's $7.9 billion debt to the Paris Club.
Algeria - French Interior Minister Nicolas Sarkozy drew both cheers and criticism on a visit to ex-colony Algeria on Tuesday, winning praise for an easing of visa rules but anger at his failure to apologise for colonial misdeeds.
Anadarko Petroleum Corp. (APC.N: Quote, Profile, Research) may sell its Algerian exploration and production business, which could fetch $7 billion to $9 billion, as it sheds assets to reduce debt after buying Kerr-McGee and Western Gas, according to sources familiar with the situation.