- Title: FRANCE: NEW FRANCO-ALGERIAN OIL AGREEMENT INITIALLED IN PARIS
- Date: 23rd July 1965
- Summary: 1. GV CONFERENCE HALL 0.03 2. CU SIGN: "CONFERENCE ROOM" 0.05 3. SV PAN ALGERIAN DELEGATION 0.11 4. CU ALGERIAN DELEGATES (2 SHOTS) 0.16 5. SV ALGERIAN DELEGATION PAN ACROSS TABLE TO FRENCH DELEGATION 0.20 6. CU DITTO 0.22 7. LONG SHOT. DOWN CONFERENCE TABLE 0.26 Initials PC/V/BHH/PN Script is copyright Reuters Limited. All rights reserved
- Embargoed: 7th August 1965 13:00
- Keywords:
- Location: PARIS, FRANCE
- Country: France
- Reuters ID: LVA5E9QBNM6QZXGW3B8GQYDAO0DO
- Story Text: THE IMPORT OF OIL INTO FRANCE FROM ALGERIA -- A THIRD OF HER NEEDS LAST YEAR -- WILL INCREASE WHEN A NEW FRANCO-ALGERIAN OIL AGREEMENT TAKES EFFECT..THE AGREEMENT WAS INITIALLED IN PARIS TODAY (FRIDAY) AFTER 20 MONTHS OF HARD BARGAINING BETWEEN PARIS AND ALGIERS.
THE TWO CHIEF NEGOTIATORS INITIALLED THE AGREEMENT - M.WORMSER, CHIEF OF THE FRENCH FOREIGN MINISTRY'S ECONOMIC AFFAIRS DIVISION, AND M.BELAID ABDESSALAM, WHO HAS BEEN APPOINTED ALGERIAN MINISTER FOR INDUSTRY AND ENERGY SINCE THE NEGOTIATIONS BEGAN.
THE AGREEMENT, DUE TO BE SIGNED IN ALGIERS NEXT THURSDAY, WILL HELP BOOST ALGERIA'S SHARE OF THE FRENCH MARKET WHEN UNTAPPED RESERVES ARE JOINTLY EXPLOITED BY FRANCE AND ALGERIA.
ACCORDING TO OFFICIAL FIGURES, FRANCE'S OIL CONSUMPTION SHOWED AN INCREASE OF 15 PER CENT TO 22.7 MILLION TONS DURING THE FIRST SIX MONTHS OF THIS YEAR, AND IS EXPECTED TO CONTINUE TO INCREASE AT THE SAME RATE.
SIXTY PER CENT OF ALGERIAN OIL PRODUCTION IS CONSUMED IN FRANCE, THE REMAINDER DISTRIBUTED IN OTHER COUNTRIES BY THE LARGE INTERNATIONAL OIL COMPANIES.PRESENT PRODUCTION TOTALS 27 MILLION TONS PER YEAR, BUT IT WILL RISE TO 40 MILLION WHEN THE THIRD SAHARA PIPELINE OPENS.
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