Middle East Economic Survey
VOL. LIII
No 4
25-Jan-2010
ALGERIA
Iberdrola Sells Stake In Petroceltic, Cancels Option On Algerias Isarene Permit
Spains Iberdrola has sold its 15.68% stake in Petroceltic International to a group of existing and new Petroceltic investors for 34.5mn ($56.14mn), the Irish exploration and production company announced on 18 January. Among its assets Petroceltic has exploration licenses in Algeria and Tunisia. In a statement Petroceltic CEO Brian OCathain said the purchase...
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