Last month, The Wall Street Journal reported that Exxon, BP, and Norway’s Equinor had all put the brakes on investment plans for the North African country amid escalating protests. Algeria 's state - run oil company Sonatrach has suspended several domestic and foreign deals amid escalating political tensions following President Abdelaziz Bouteflika 's resignation . Shell , BP and Equinor have also sidelined potential projects in the North African country , which holds oil reserves of around 2 billion barrels and is home to the world 's third - biggest shale gas play . Although Algerian output has continued , analysts said investors are waiting to see how the transition period , as well as any changes to Algeria 's leadership , play out .
Algeria 's state - run oil company Sonatrach has suspended several domestic and foreign deals amid escalating political tensions following President Abdelaziz Bouteflika 's resignation . Shell , BP and Equinor have also sidelined potential projects in the North African country , which holds oil reserves of around 2 billion barrels and is home to the world 's third - biggest shale gas play . Although Algerian output has continued , analysts said investors are waiting to see how the transition period , as well as any changes to Algeria 's leadership , play out .