The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 510.40
Bid: 509.40
Ask: 509.50
Change: 0.00 (0.00%)
Spread: 0.10 (0.02%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 510.40
BP. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Algeria sends signal to jihadists with overwhelming force

Wed, 23rd Jan 2013 13:29

By Giles Elgood

LONDON, Jan 23 (Reuters) - Algeria's swift use of lethalforce against Islamist fighters who seized one of its main gasfields raised concerns in the West but came as no surprise athome and showed clearly how the government would respond tofuture jihadist attacks.

By the time special forces had cleared the In Amenas complexat the weekend, nearly 70 hostages and militants lay dead. SomeWestern leaders seemed unaware of what was happening on theground, complaining that they had not been consulted about thedecision to go in with foreign hostages' lives at stake.

For the Algerian leadership, the decision to attack withhelicopters, snipers and special forces to tackle insurgents whohad threatened to blow up the plant was apparently an easy oneand the operation was seen as a success that has boosted theprestige of the armed forces.

"We are proud of our army's special forces and the wholeworld has understood that this reaction was the only possibleresponse," Prime Minister Abdelmalek Sellal said. "When thesecurity of the country is at risk, you have to be firm."

That reaction was clearly conditioned by the turbulentrecent history of a country that jealously guards itssovereignty and sees those it regards as Islamist "terrorists"as a threat that must be snuffed out. And with a war in progressin neighbouring Mali, it is a threat that looms larger now.

Algeria fought a bitter war of independence against Francein the 1950s and an even bloodier civil war against Islamistinsurgents in the 1990s that cost 200,000 lives. Its leadershipis secretive, authoritarian and determined to preserve the statein the face of Islamist unrest.

Oil and gas account for the bulk of Algeria's exportearnings and the funds enable the government to subsidise foodand fuel prices and cushion the effect of unemployment,particularly among the young.

OIL WEALTH

Hydrocarbon wealth enabled Algeria to dodge the upheavals ofthe Arab Spring and experts believe that any further Islamistattacks on its oil and gas industry will be met with force by asecurity establishment determined to maintain the status quo.

More Islamist attacks are likely, but they are expected tobe smaller, with foreign workers at risk from shootings andbombings. The security forces will deal with them firmly, saidRichard Jackson, Deputy Director of Violent Risk Forecasting atthe Exclusive Analysis consultancy.

"They are likely to respond in a forceful and rapid way toany future events," he said.

Prime Minister Sellal has been at pains to stress that theproblem his country faces is not related to Islam, but toterrorism and banditry.

"I particularly call on Arab countries, in order to tellthem that we are not facing an Islamic issue, but terrorists andmercenaries," he said.

"We must protect our religion, our civilisation, whichterrorists are destroying. How can we imagine that such an actsare perpetrated on behalf of Islam. These crimes will not beallowed in Algeria."

The leader of the group behind the In Amenas attack, MokhtarBelmokhtar, is known to be active in cigarette smuggling andkidnap and ransom, which many see as undermining any claim topurely religious motivation.

MILITARY RESPONSE

Some in Algeria suggest, however, that the military responseto religious radicalism may not be effective on its own. Arepositioning of religious values away from those espoused byforeign teachers may be necessary.

"Military combat against Salafi jihadists is needed, but itis not enough. We must also combat their ideology by returningto our values, our religious references," said Mohamed Mouloudi,an independent analyst on Islamic issues.

"Algeria doesn't need Saudi muftis to tell its citizens whatis permitted and what is not, as is the case now. We must reformour education system, we must reform the way the governmenthandles religion. If not, we will very soon become an annexe ofSalafi ideology."

Although the In Amenas attack was plotted in Mali andinvolved foreign jihadists, Al Qaeda in the Islamic Maghreb canbe found in Algeria.

Algerian libraries today contain religious texts originatingmainly in Saudi Arabia, written by scholars who endorse thehard-line Wahhabi ideology, Mouloudi said.

"I am not saying they are all terrorists, but I am sayingthe ideas they promote clash with our values and our culture,"he said.

In the meantime, however, one beneficiary of the In Amenasoperation may be the Algerian military, whose politicalinfluence could be boosted as the country approaches an electionin which it is unclear whether Abdelaziz Bouteflika, in powersince 1999, will stand.

"The successful military assault has boosted the Algerian army's popularity among the people, which is an important factor15 months ahead of a presidential election in which the militarycould play a major role in promoting a candidate," said anAlgerian analyst, who asked not to be named because of thesensitivity of the issue.

More News
8 Jan 2024 16:38

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

Read more
8 Jan 2024 12:00

LONDON MARKET MIDDAY: FTSE 100 underperforms in muted start to week

(Alliance News) - Stock prices in London traded lower at the start of the week, with oil firms weighing on then FTSE 100, as investors look ahead to the week's key inflation prints.

Read more
8 Jan 2024 08:40

LONDON MARKET OPEN: Commodity-heavy FTSE 100 heads lower; Shell slips

(Alliance News) - The FTSE 100 kicked off the week on a downbeat note at Monday's market open, amid share price falls for commodity stocks.

Read more
6 Jan 2024 12:29

BP investors want oil firm to approach BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach BAE Systems Chief Executive Charles Woodburn about becoming the British oil giant's next boss, Sky News reported on Saturday, citing unidentified sources.

Read more
6 Jan 2024 11:38

BP investors want oil behemoth to target BAE chief as CEO- Sky News

Jan 6 (Reuters) - Some of BP's largest shareholders have urged the company to approach Charles Woodburn, the BAE Systems chief executive, about becoming the company's next boss, Sky news reported on Saturday. (Reporting by Devika Nair in Bengaluru; Editing by Jan Harvey)

Read more
4 Jan 2024 16:54

LONDON MARKET CLOSE: Stocks up ahead of US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Thursday, as investors eye the latest US non-farms data.

Read more
4 Jan 2024 13:07

London close: Stocks rise as US jobless claims slow

(Sharecast News) - London markets showed mixed performance on Thursday as investors digested the latest UK services and mortgage data and a fall in jobless claims across the pond.

Read more
4 Jan 2024 12:09

LONDON MARKET MIDDAY: Retailers Next and JD Sports bookend FTSE 100

(Alliance News) - Stock prices in London were slightly higher at midday on Thursday, with the FTSE 100 looking set to snap the two-day losing streak it suffered at the start of the year.

Read more
4 Jan 2024 09:31

LONDON BROKER RATINGS: Jefferies cuts Tullow; Berenberg likes Volex

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
4 Jan 2024 08:58

LONDON MARKET OPEN: Next leads buoyant FTSE 100 amid services PMIs

(Alliance News) - Stock prices in London opened up on Thursday, amid a slew of services PMI data, including for the UK, while reacting to the latest data from China.

Read more
3 Jan 2024 18:37

Equinor, BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - European energy firms Equinor and BP terminated their agreement to sell power to New York state from their proposed Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

Read more
3 Jan 2024 17:02

Equinor and BP cancel contract to sell offshore wind power to New York

Jan 3 (Reuters) - Equinor and BP terminated on Wednesday their agreement to sell power to New York state from their 1,260-megawatt Empire Wind 2 offshore wind farm, citing rising inflation, higher borrowing costs, and supply chain issues.

Read more
3 Jan 2024 16:52

LONDON MARKET CLOSE: Stocks down ahead of US Fed minutes

(Alliance News) - Stock prices in London closed lower on Wednesday, as investors nervously look ahead to the latest US Federal Reserve meeting minutes.

Read more
3 Jan 2024 08:18

Chill Brands plots product launches and looks to ease regulatory worry

(Alliance News) - Chill Brands Group PLC on Wednesday said its vape products will soon launch in retail stores, including WH Smith PLC travel locations, and it reported a trio of initiatives to help soothe regulatory scrutiny.

Read more
2 Jan 2024 16:58

LONDON MARKET CLOSE: Stocks down amid disappointing manufacturing data

(Alliance News) - Stock prices in London closed lower on Tuesday, after the year was started with some disappointing data about the UK and US manufacturing sectors.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.