Algeria, the largest oil and gas producer in North Africa, is heavily dependent on hydrocarbons for exports and government revenues. It's crucial that government officials and managers of state oil company Sonatrach heed global shifts.
Luego de la pandemia y la caída de precios, los países de América Latina están considerando otorgar exenciones fiscales para mantener la inversión de las empresas en sus propios proyectos. Esta publicación explica por qué esta puede no ser una buena medida.
Amid the coronavirus pandemic, experts predict Africa’s economy will shrink for the first time in over 25 years. For the continent’s oil- and gas-rich countries the impact of the pandemic coincided with and exacerbated a global drop in oil prices.
In the aftermath of the pandemic and falling oil prices, Algerian authorities consider giving tax breaks to maintain investment in hydrocarbon projects, but there may be better alternatives for the country.
Both Algeria and Iraq were already in places of great transition and turmoil when confronted by the coronavirus pandemic. While both countries have taken some measures in response to the oil price drop and the spread of the coronavirus, questions remain.
It is critical to address the impacts of the much-needed low-carbon transition on the livelihood of the world’s millions of oil workers and their communities. Implementing a just transition for workers will not be easy, but it is imperative for governments in oil-exporting emerging economies to begin planning now.