ALGIERS, Algeria – Algeria's energy minister says foreign companies involved in any corruption investigations will be blacklisted, without naming any specific firms.
Oil-rich Algeria has been rocked by a string of corruption scandals largely involving foreign firms paying bribes to win lucrative oil and infrastructure projects.
Speaking to parliament Thursday, Energy Minister Youcef Yousfi said these companies can no longer conclude new contracts in Algeria and may also be subject to reparations.
Algeria is currently investigating Italian firm Saipem and Canadian company SNC-Lavalin. Most deals have involved state energy company Sonatrach.
The latest corruption allegations involve power plants built for Sonelgaz, the national electricity provider.
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