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Algeria urges settlement of oil price issue — PM

April 27, 13:06 UTC+3
According to the country’s Prime Minister Abdelmalek Sellal, Algeria is mulling over the possibility of producing shale oil
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Algeria’s and Russian Prime Ministers Abdelmalek Sellal and Dmitry Medvedev

Algeria’s and Russian Prime Ministers Abdelmalek Sellal and Dmitry Medvedev

© Alexander Astafyev/Russian Government Press Office/TASS

GORKI, April 27. /TASS/. Algeria urges for the settlement of the oil prices issue in a move to prevent them from putting pressure on the economy, the country’s Prime Minister Abdelmalek Sellal said at a meeting with his Russian counterpart Dmitry Medvedev on Wednesday.

"We think the issue of oil prices has to be settled so that we could get rid of this lever of pressure on the economy," Sellal said.

He added that Algeria is mulling over the possibility of producing shale oil. "We’re considering shale oil production," he said.

Sellal is on an official visit to Russia at Medvedev’s invitation. The parties are expected to sign a number of interdepartmental and corporate documents.

Algeria closely cooperates with Russia’s Gazprom in the energy sector, he added, also mentioning agriculture as the most promising area for mutual cooperation.

The People's Democratic Republic of Algeria has been one of Russia’s major trade partners in North Africa over the past several years. In 2015, the bilateral trade between the countries topped $1.999 bln (up 2.2 times compared with 2014).

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