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LONDON, Feb 9: Some companies working in Algeria are set to receive less than their normal oil allocation in March as the OPEC member holds back barrels as payment of a new windfall tax, industry sources said on Friday.
Algeria announced last year it would impose a windfall tax on foreign oil companies expected to earn $1billion in 2007 and that it was effective from Aug 1, 2006.
Earlier this week, the head of Anadarko's Algerian unit said state energy company Sonatrach would start collecting the tax in March by retaining oil to which Anadarko was normally entitled.—Reuters
