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

1: Algeria Oil Export Revenues* Fall To Record Low For March

2: Algeria Has Committed To Cut Its Crude Output By A Fifth To 816,000 B/D For May & June (Mn B/D)

3: Algeria Could See Its Lowest Gross Oil Revenues* In Almost Two Decades This Year

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