Fobes: Algeria's oil production crisis

[Couscous Nomade 10]

The loss of interest on the part of foreign partners and its impact on production levels would be of concern in any country, but Algeria’s is of grave concern considering the country’s heavy dependence on oil and gas for 97 percent of their export revenue and substantial amounts of government operations and spending.

 

Africa’s second largest oil producer behind Nigeria, Algeria’s oil production stood at 1.14 million barrels per day in November of last year, down 15% from 2005-2010 averages. Meanwhile, the country’s gas production has declined steadily since 2005 to 2.9 trillion cubic feet in 2011.

Algeria Spending $100 Billion To Turn Around Falling Oil And Gas Production - Forbes