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.

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.

2018 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
LNG Exports 9.4 mn tons
Oil & Gas export revenue 38.3 $bn
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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)

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