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}}</ref>. France was willing to accept Algeria's independence as long as their status as a newly founded nation would not endanger French access to the oil resources of the Sahara. France believed their rights to the oil were not only based on their historical control of the region but also their significant investments which went into the development of the Sahara<ref>{{cite book |
}}</ref>. France was willing to accept Algeria's independence as long as their status as a newly founded nation would not endanger French access to the oil resources of the Sahara. France believed their rights to the oil were not only based on their historical control of the region but also their significant investments which went into the development of the Sahara<ref>{{cite book |
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}}</ref>. The agreement reached at Evian in 1962, however, resulted in insufficient oil revenues for Algeria which could not counteract the economic decline, capital spill over, and increasing government spending that was present in the Ben Bella government<ref>{{cite web |
}}</ref>. The agreement reached at Evian in 1962, however, resulted in insufficient oil revenues for Algeria which could not counteract the economic decline, capital spill over, and increasing government spending that was present in the Ben Bella government<ref>{{cite web |
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This article, Nationalization of oil in Algeria, has recently been created via the Articles for creation process. Please check to see if the reviewer has accidentally left this template after accepting the draft and take appropriate action as necessary.
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After Algeria claimed independence from France in July of 1962, the economy of the new nation resembled that of an economy that was extremely dependent on a highly developed nation. The agricultural sector, which was the dominant economic arm, was divided into two branches: one that was cash-crop export oriented and therefore very modern, and one that was more traditional and aimed for self-sufficiency[1]. While Algeria discovered oil in Edjeleh and Hassi Messaoud in 1956[2], large scale oil output did not being until around 1961 as the development of the industry was largely due to French interest[3]. The Evian Accords of 1962 ended the Algerian War for Independence and established Algerian sovereignty without France losing economic interests in the region. Through the accords, Algeria gained full sovereignty of the Algerian territory and France committed to providing assistance in the economic and social development of the new nation. In return, France would maintain all rights pertaining to exploration, research and transportation in the oil industry. French companies would also have sole privileges over non-French and non-Algerian companies in Algerian oil for a period of six years[4]. France was willing to accept Algeria's independence as long as their status as a newly founded nation would not endanger French access to the oil resources of the Sahara. France believed their rights to the oil were not only based on their historical control of the region but also their significant investments which went into the development of the Sahara[5]. The agreement reached at Evian in 1962, however, resulted in insufficient oil revenues for Algeria which could not counteract the economic decline, capital spill over, and increasing government spending that was present in the Ben Bella government[6].
Algeria establishes its own oil company Société National du Transport et de Commercialization des Hydrocarbures (SONTRACH) whose first task is to build the third crude oil pipeline which was originally keeping Algeria from expanding Saharan production and commercialization. This action, however, was in clear violation of the Evian Accords and led to negotiations which took place in the 1965 Oil and Gas Accord[7].
{{cite journal}}: Check |doi= value (help)
