North Africa


Within Opec, Algeria is perhaps second only to Venezuela in its inability to adapt to lower oil prices since 2014. Massive deficits are the direct legacy of spending largesse in the wake of the 2011 ‘Arab Spring’. More upstream investment is desperately needed but this will require improved terms, now promised for 2019.

Spain Gas Imports From Algeria (bcm): Piped Volumes Are Running At Record Levels Though LNG Is Down
Algeria’s Foreign Currency Reserves Fall To 12-Year Low Of $90bn At End-May As IMF Forecasts Further Slump ($BN, End Period)
Algeria's Generating Capacity Vs Peak Demand (GW)