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Algeria’s political travails continue. Few expect presidential elections slated for 4 July to resolve the country’s sharp political divisions, whilst last month’s ouster of the well-respected Abdelmoumen Ould Kaddour from the post of head of state oil and gas firm Sonatrach expanded the uncertainty to the energy sector ( MEES, 26 April ).
Whoever ends up running Algeria and its energy sector faces massive challenges.
Algeria is reliant on oil and gas for almost 94% of its export revenue ($9.15bn of $9.78bn for the first three months of 2019), a share that has barely changed in recent years – the share did dip to 93% for Q1 2018 but non-hydrocarbon exports have since fallen back (see table). (CONTINUED - 1684 WORDS)
DATA INSIDE THIS ARTICLE
|chart||Algeria's Oil Output Is At A 15-Year Low Of 1.5mn B/D ('000 B/D)|
|chart||Algeria's Gas Output Peaked In 2016-17 But Has Since Fallen, With Exports Down More (Bn Cfd)|
|table||Algeria: Key Trade Stats, Q1 2019 ($Bn*)|
|table||Algeria's Top 10 Q1 Export Customers ($Bn): Three Asian Countries In The Top 10 Vs None In The Top 15 Three Years Ago|