Algeria French Highlights Oil and Gas

Algeria energy exports down 7.7% in 2018 – central bank

Algeria’s oil and gas export volumes fell 7.7% in 2018 from the previous year, the central bank said on Tuesday, highlighting how the OPEC member country is struggling to attract foreign investment to boost output.

Energy exports are the main source of income for Algeria, accounting for 60% of the state budget and 94% of total sales abroad.

Overall oil and gas exports stood at 99.9 million tonnes of oil equivalent in 2018 down from 108.23 million tonnes of oil equivalent in 2017, the central bank said, without giving details.

Algeria, a major gas exporter to Europe, had said had attributed a fall in exports over the past years to decline in output and growing domestic consumption.

Foreign investors have stayed away, citing unattractive contract terms and bureaucracy, forcing the government to start drafting a new energy law offering tax incentives.

Source Reuters

Related posts

بن بوزيد : تحويل المرضى للعلاج بالخارج ” يتطلب ضرورة وضع استراتيجية وطنية محددة “

La rédaction

التوقيع على إتفاقية بين وزارتي التكوين والصيد البحري والمنتجات الصيدلية

La rédaction

الوزير الأول عبد العزيز جراد وحكومته وملفاته أمام اعضاء مجلس الأمة

La rédaction

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More