ALGERIA GEARS UP FOR OIL, GAS SALE

ALGERIA has set out a punishing timetable for its first-ever public oil and gas exploration licensing tender but foreign firms are sceptical that sweeter terms and efficiency will reign. Algerian Energy Minister Chakib Khelil last week said six oil and gas blocks would be put on offer later this month in an international tender where bids would be opened publicly. That would aim to end lengthy one-to-one negotiations and haggling between state oil company Sonatrach and oil companies wishing to explore or develop fields in Algeria. – Reuters