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.

2020 In Numbers

Crude Output	0.899	mn b/d
Crude Exports	0.36	mn b/d
Condensate Exports	0.25	mn b/d
Gas Output	87.7	bcm
Gas Exports	38.2	bcm
Oil & Gas export revenue	20.2	$bn

Oil & Gas

3 Jun, 2022

Featured

Algeria Signs $500mn Upstream Deal With China’s Sinopec

Sinopec has become the second firm to sign up to Algeria’s new oil contracts. Chinese firms are increasing their Mena presence and Algeria could be the next growth area.