ALGIERS, Jan 26 (Reuters) - OPEC member Algeria has no
plans to increase its oil exports to compensate for any fall in
Iranian exports stemming from tighter U.S. and European
sanctions, its energy minister said on Thursday.
Asked if Algeria would help off-set a drop in Iranian
exports, Youcef Yousfi said in parliament: "We have a programme
with regard to oil exports. This programme will not change."
Referring to the impact on crude of the euro zone debt
crisis, he said: "Oil prices will remain as they are and I hope
they will not fall because of the financial crisis."
The minister also said that the Arzew oil refinery, in the
west of the country, would re-open in February following
maintenance and improvement works. He said the work would
increase the plant's production capacity by 50 percent.
(Reporting by Hamid Ould Ahmed; Writing by Christian Lowe;
Editing by Jason Neely)
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