Oil recovery buys Algiers only limited time
New hydrocarbons law may represent a last-chance saloon for the North African producer
Crude’s surge above $60/bl in early 2021 has brought some relief to Algeria’s battered finances. But the prospect of further Opec+ output relaxation in May is a source of uncertainty, and recent calls for caution and market stability from the group by energy and mining minister Mohamed Arkab are symptomatic of Algiers’ nervousness. Fundamentally, however, Opec+ decisions barely scratch the surface of Algeria’s deeply seated difficulties in reforming its economy and reducing a crippling reliance on its oil and gas industry, which accounts for more than 95pc of export revenue and 60pc of its budget. 95pc – Oil and gas’ share of export revenues The effects of the 2020 pandemic shed furt
Also in this section
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources
26 March 2024
Strategic stocks have become as much a market management tool as a security of supply buffer, and this new tactic is likely to continue beyond the next election
25 March 2024
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030