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
9 Apr 2024 07:39

LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

Read more
9 Apr 2024 07:24

BP sees higher Q1 upstream production

(Sharecast News) - Oil giant BP said it expected first-quarter upstream production to be higher than the previous three months.

Read more
5 Apr 2024 12:00

LONDON MARKET MIDDAY: Stocks drop on Israel-Iran tensions and Fed talk

(Alliance News) - Stock prices in London were firmly down at midday on Friday, as rising tensions between Israel and Iran alongside doubts around the timing of US interest rate cuts hurt investor sentiment.

Read more
5 Apr 2024 08:47

LONDON MARKET OPEN: Europe slumps on US rate worry and rising tensions

(Alliance News) - Stocks in Europe had a downbeat start to the day on Friday, with investors unnerved by rising geopolitical tensions and hawkish remarks from US central bankers.

Read more
4 Apr 2024 16:55

LONDON MARKET CLOSE: US initial jobless claims hotter than expected

(Alliance News) - Stock prices in London closed up on Thursday, as investors first digested words from US Federal Reserve Chair Jerome Powell overnight, before reacting to hotter-than-expected US initial jobless claims.

Read more
4 Apr 2024 11:58

LONDON MARKET MIDDAY: Stocks up as Fed chair calms some rate nerves

(Alliance News) - Stock prices in London were in the green on Thursday afternoon, with mining stocks powering the FTSE 100 higher, as investors digested words from Federal Reserve Chair Jerome Powell.

Read more
2 Apr 2024 23:07

Sector movers: Builders and REITS slip, geopolitics boost Big Oil and gold miners

(Sharecast News) - Personal Goods was at the bottom of the pile on the FTSE 350 at the start of the second quarter, as fashion retailer Burberry Group's shares fell back towards their five-year lows.

Read more
2 Apr 2024 16:57

LONDON MARKET CLOSE: Europe down after Easter holiday weekend

(Alliance News) - The FTSE 100 took a hit on Tuesday, after a boost from London's miners and oil firms were not enough to lift the index.

Read more
2 Apr 2024 15:22

London close: Stocks turn red on return from Easter break

(Sharecast News) - UK stocks experienced a downturn by the end of trading on Tuesday, as investors resumed activity following the extended weekend, with initial gains reversed by the close ahead of a week marked by a number of key economic data releases.

Read more
2 Apr 2024 11:00

Biden administration approves eighth US offshore wind project

WASHINGTON, April 2 (Reuters) - The U.S. Interior Department on Tuesday approved the country's eighth commercial-scale offshore wind project, which will be built off the coast of Massachusetts, bringing online electricity to power more than 900,000 homes.

Read more
2 Apr 2024 09:09

LONDON MARKET OPEN: FTSE 100 up as oil majors and gold miners shine

(Alliance News) - Stock prices in London opened higher on Tuesday, in confident trade following the long Easter weekend, ahead of a UK manufacturing sector reading later in the morning.

Read more
2 Apr 2024 08:55

European oil stocks gain on expectations for higher demand, supply concerns

Read more
28 Mar 2024 10:00

How the oil industry is thriving despite Joe Biden's climate policies

GRAPHIC on Biden's oil boom: https://www.reuters.com/graphics/USA-BIDEN/OIL/lgpdngrgkpo/

By Nichola Groom, Jarrett Renshaw

Read more
27 Mar 2024 20:59

New England offshore wind auction draws multiple bidders

March 27 (Reuters) -

Read more
27 Mar 2024 12:47

Ithaca Energy gets bid rights on Eni's UK assets, profit slips

March 27 (Reuters) - Ithaca Energy has been given a four-week exclusivity period by Italy's Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday.

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.