- UK opposition party leader says Google tax behavior 'wrong'
- Microsoft unveils Xbox One with Spielberg, Activision tie-up
- White House threatens veto of bill to bypass Obama on Keystone
- Senate panel passes immigration bill; Obama praises move
- Whole neighborhoods razed by Oklahoma tornado that killed 24 |
Algeria assembly approves amendments to energy law
ALGIERS (Reuters) - Algeria's parliament on Monday endorsed amendments to the country's hydrocarbons law, for the first time offering incentives to foreign companies wishing to invest in unconventional resources.
Aimed at making the sector more attractive to foreigners, the amendments also cancelled a windfall tax on foreign firms and replaced it by a "complementary tax on results".
"Following this approval we will start looking for unconventional hydrocarbons. There are signs that Algeria is very rich," the energy and mines minister told reporters in parliament after the vote.
(Reporting By Hamid Ould Ahmed; Editing by Anthony Barker)
- Tweet this
- Share this
- Digg this