Algeria : The Political Economy of Oil and Gas Book

	List of Tables
	Abbreviations and Acronyms
	Chronology
	Acknowledgement
	Map
1	Introduction	1
2	The Social, Economic and Political Context	8
	The Hydrocarbon Foundation	9
	A Crisis Brewing	14
	Leviathan Unleashed	16
	Muddling Through	25
	Bold Reforms, Protracted Implementation	27
3	Oil and Gas from Early Times to Algeria's Independence	39
	Ain Zeft	40
	First World War and the Importance of Oil	42
	From Iraq to Algeria: The Shift in French Oil Policy	43
	The Saharan Issue	47
	Structure and Regulation of the Industry on the Eve of Independence	53
4	From Condominium to Nationalisation	62
	Early Institutional Framework	63
	The Constraints of a Bilateral Relationship	68
	OPEC and Algeria's Broader Aspirations	72
	The Steep Path to Nationalisation	73
	Taking Over French Interests	78
5	Changes in Hydrocarbon Policies Since Nationalisation	88
	Valhyd and the 'Gas Battle'	89
	Upstream Policies: From 'Do-It-Alone' to a Policy of Partnership	94
	The Three-pronged Strategy of the 1990s	101
	Critical Issues Upstream	108
	Towards a New Legal, Fiscal and Institutional Arrangement	114
6	Upstream, Midstream and Downstream Developments	126
	Hydrocarbon Reserves	127
	Crude Oil Production	130
	Natural Gas Production	138
	Midstream Developments	140
	The Downstream and Transformation Sectors	147
7	Hydrocarbon Export and Pricing Policies	166
	Exports Pattern: The Increasing Importance of Gas	166
	The Political Economy of 'Diversification' and 'Valorisation'	168
	Oil Exports and Pricing Policies	173
	Gas Exports and Pricing Policies	184
	The Marketing and Pricing of Condensate and LPG	196
8	Sonatrach and the Government	202
	The Birth and Rise of Sonatrach	203
	De-integration and Re-integration	204
	The Complex Interaction with the Government	210
	Stripping Sonatrach of its Government Functions	215
	Towards Privatisation?	217
9	Hydrocarbons and the Economy	223
	The Role of Hydrocarbons in Shaping the Economy: An Historical Perspective	224
	The Vicious Impact of the 1986 Oil Price Collapse	231
	The Resulting Debt Burden...	234
	...And the Unemployment Crisis	237
	Coping with Oil Price Uncertainties	239
	Mitigating the Macro-economic Effects of Oil Prices	241
10	Hydrocarbons, Energy and the Environment	249
	The Pressure of the Rio Agenda	250
	Hydrocarbons and Energy-related Environmental Policy Issues	252
	The Broad Nature of Emissions	255
	Legal and Other Policy Instruments	262
	The Hydrocarbon Industry: Culprit or Mover?	271
11	Hydrocarbon Rents and Beyond	277
	The Prospects for Export-generated Rent	278
	Capturing Additional Rent Downstream	282
	Stabilising State Income and Mitigating Future Fiscal Crisis	286
	Beyond Hydrocarbon Rents	289
	References	294
	Index	304