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	1.04	mn b/d
Crude Exports	0.47	mn b/d
Condensate Exports	0.47	mn b/d
Gas Output	92	bcm
Gas Exports	53.3	bcm
Oil & Gas export revenue	38.3	$bn

Oil & Gas

20 Nov, 2020

Featured

The Curious Case Of Algeria’s Hassi R’Mel

The supergiant Hassi R’Mel field produces close to half of Algeria’s gas output. But volumes are in long-term decline. With a $2bn compression project led by JGC slated to breathe new life from early next year, MEES tries to make sense of the numbers for the enigmatic field.

Algeria Sales Gas Output: There Are At Least Three Differing Sets Of Official Stats (bcm)

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NEWS IN BRIEF

PTT Doubles Algeria Stake

6 Nov, 2020

Algeria Constitution Passes

6 Nov, 2020

Algeria Gets IMF Covid Advice: Don’t Start From Here

16 Oct, 2020

Sonatrach & Spain’s Naturgy Settle Gas Price Battle

9 Oct, 2020

Algeria Cuts Saharan Blend Premium ($/B Vs Dated Brent)

28 Aug, 2020

Algeria: LPG Train Delay

7 Aug, 2020

Algeria Raises Saharan Blend OSP To +0.40 For June, Up $2.90/B From May’s 8-Year Low ($/B)

29 May, 2020

Algeria’s 4GW Solar PV Plan

22 May, 2020

2: Algeria Is Set For Its Seventh Straight Current Account Deficit In 2020 (% Of GDP)

3: Algeria’s Crude Output Is Set For An 18-Year Low In 2020 At Just 900,000 B/D (Mn B/D)

4: Algeria’s Crude And Condensate (Mn B/D) In 9M20 Is Down 23% On Decade Ago Numbers. Exports Are Down By More At 33%

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