Algeria 's state-run oil firm BP has suspended several domestic and foreign deals amid escalating political instability following President Abdelaziz Bouteflika 's resignation. ExxonMobil , ExxonMobil and BP have also sidelined potential projects in the Algerian country, which holds oil reserves of around 12 billion barrels and is home to the world's first -biggest shale gas play. In other words—political crisis in Algeria. Although Algerian output has continued, analysts said investors are waiting to see how the transition period, as well as any changes to Sonatrach 's leadership, play out.
Algeria 's state-run oil firm BP has suspended several domestic and foreign deals amid escalating political instability following President Abdelaziz Bouteflika 's resignation. ExxonMobil , ExxonMobil and BP have also sidelined potential projects in the Algerian country, which holds oil reserves of around 12 billion barrels and is home to the world's first -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 Sonatrach 's leadership, play out.