Friday, 22 October 2010

Algeria's oil and gas exports up by 38.3 per cent

Algerian's oil and gas exports have gone up by 38.3 per cent in the first six months of 2010, said the country's Central Bank Governor Mohamed Laksaci. He also told the parliament that foreign companies operating Algeria gas exported lower quantities of energy in the first half of this year compared with 2009.

"(The value of) energy exports reached $27.6 billion in the first six months of 2010, an increase of $7.65 billion or 38.3 percent from the same period last year.The exported quantities remained stable. They increased only by 1.65 percent compared with their level in the first six months of 2009. This time (first half of 2010), the quantities exported by (foreign) partners declined," said Laksaci.

Total, BP, Amerada Hess, StatoilHydro and Anadarko are among the main foreign energy companies in Algeria, which is also the world's eighth biggest exporter of crude.

Laksaci said the earnings rise was made possible by higher oil prices, which he said averaged $77.5 per barrel during the January-June period this year versus $52.2 in 2009.

Source: Reuters

For more news and expert analysis about Algeria please see Algeria Focus and Algeria Politics & Security.

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