Algeria's oil sector has so far not been impacted by the country's ongoing political drama,with no disruptions to oil or gas operations reported(EC Mar.8'19).The Opec member produces roughly 1.02 million barrels per day of crude and is the third-largest gas supplier to Europe,accounting for about 10% of the European market.But longer term,its status as an oil and gas exporter is in doubt.Maturing oil and gas fields,rising domestic gas demand,stringent fiscal terms and tougher global competition for capital are all combining to create a perfect storm just as Algeria's politics enter a period of deep uncertainty.Abdelaziz Bouteflika resigned as president on Apr.2,ending his 20-year rule after weeks of mass protests.Abdelkader Bensalah,head of parliament's upper house,is now acting president until elections are held within 90 days,with Algeria's army positioned to play the role of kingmaker-although protesters are insisting they won't accept a controlled succession(EC Mar.29'19).
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