Anadarko Petroleum Corp. has looked at seizing the foreign assets of Sonatrach, its state-owned partner in Algeria, to enforce judgment if it wins a $3 billion claim over an Algerian windfall tax on oil, the Financial Times reported, citing diplomatic cables obtained by WikiLeaks that it’s reviewed.
Algeria’s state-run Sonatrach and Russia’s OAO Gazprom have agreed to maximize their LNG sales worldwide through swaps, El Khabar reported, citing Sonatrach Chief Executive Officer Abdelhamid Zerguine.
Spain’s Industry Ministry has made provisions to cover a fine deriving from a tariff dispute between Gas Natural SDG SA and Algeria’s Sonatrach, Cinco Dias reported, citing unidentified people with knowledge of the matter.
Gas Natural SDG SA fell the most in six weeks in Madrid trading after an arbitration panel said it must pay Algeria’s Sonatrach more for gas, a decision that could raise the energy supplier’s costs more than 300 million euros ($386 million) a year.
Gas Natural SDG SA rose the most in five months in Madrid after agreeing to pay Algeria’s Sonatrach $1.9 billion to settle a dispute while saying the Algiers-based energy company may take a stake in its Spanish distributor.