Algeria Oil Company to Maintain Investment Plan

December 7, 2014 5:37 PM

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Algerian state oil company Sonatrach says it won't cut back spending on its next five-year plan despite the precipitous decline of oil prices.

Said Sahnoun, Sonatrach CEO, said Sunday that the next five year plan budgets $90 billion to improve production even as oil prices hit five year lows of around $65 a barrel.

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