North Africa

Algeria

Within Opec, Algeria is perhaps second only to Venezuela in its inability to adapt to lower oil prices since 2014. Massive deficits are the legacy of spending largesse in the wake of the 2011 ‘Arab Spring’. More upstream investment is desperately needed but it's far from clear that the new Oil Law will do the trick.

State of Play

Algeria's chronic economic problems are rooted in an overwhelming reliance on declining oil and gas output. This may fuel political instability for years to come unless the government offers IOCs the incentive to boost investment.

2019 In Numbers
Crude Output 1.03 mn b/d
Crude Exports 0.49* mn b/d
Condensate Exports 0.35 mn b/d
Gas Output 85* bcm
Gas Exports 45* bcm
Oil & Gas export revenue 33.2 $bn

*Estimated

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SELECTED DATA

Italian Piped Gas Imports From Algeria Are On Track For Lowest Monthly Level In More Than Five Years (MN CFD)

Eni Net Algeria Output ('000 boe/d):

Algeria's Trade Deficit Hit $6.1bn For 2019 As Oil Prices Fell And Gas Prices Fell More

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