Continental Focus, International Reach

Algeria’s Energy Earnings Take a Dip

Thursday, August 21, 2014

Petroleum export took a dip in Q1 for Algeria, lowering its energy earnings. The North African country saw oil and gas exports drop 9% in Q1 compared to the same period in 2013, this lowered Algeria’s energy earnings by 12%.

While the drop in earnings was not huge, for Algeria who relies on its energy exports to fund its budget, the drop was substantial.

Algeria has seen a long lull in its upstream sector due to contract terms and the security situation. In an effort to generate more action in the upstream sector the government revamped the petroleum laws again and then launched a licensing round earlier this year. The government is hoping that its new terms will stimulate the sector.

 


« GO BACK