Algerian Minister Calls On Russia To Raise Investments In Energy, Mining Sectors

Algerian Minister of Energy and Mining Mohamed Arkab has appealed for increased investment by Russian companies in the North African nation's energy and mining industries, the Algerian Ministry of Energy and Mining said

CAIRO (UrduPoint News / Sputnik - 20th May, 2021) Algerian Minister of Energy and Mining Mohamed Arkab has appealed for increased investment by Russian companies in the North African nation's energy and mining industries, the Algerian Ministry of Energy and Mining said.

The remark was made during a Wednesday meeting between Arkab and Russia's ambassador to Algeria, Igor Beliaev.

"The sides underlined the opportunities for investment and partnership in the energy sector, especially in the field of oil products, geological survey and development of deposits .

.. as well as in the power generation and transmission. The minister has urged Russian companies to increase investments in these areas," the ministry said in a press release seen by Sputnik.

The two officials also discussed prospects for cooperation in the energy and mining sectors, as well as preparations for the 10th session of the joint Algerian-Russian intergovernmental commission, the release read.

The parties also applauded engagement within OPEC, which is aimed at stabilizing the world oil market.