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.

Algeria’s Budget Balance: Heading For 11th Straight Deficit In 2019, A Cumulative $118bn Since 2009
Algeria’s Foreign Currency Reserves Fall To 12-Year Low Of $80bn At End-2018 ($BN, End Period)
Algeria's Generating Capacity Vs Peak Demand (GW)