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FINANCIAL NEWS
Algeria will not boost oil exports
29 Jan 2012
(MENAFN) Algeria’s energy minister, Youcef Yousfi, said that his country has no plans to boost oil exports in order to offset any decline in Iran oil exports, reported Tehran Times.
Yousfi added that oil prices would stay as they are, referring to the impact of the ban imposed on oil imports, and the effect of the euro zone’s sovereign debt crisis.
He also said that Algeria has a program for its oil exports, and at the time being, that program wouldn’t be changed for any reason.
It is worth noting that Algeria’s Arzew oil refinery would be re-opened next month, following maintenance works.
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