Algeria’s oil and gas production down 1.3%

Algeria’s oil and natural gas production fell 1.3%, while refined products fell 4.9% in the first half of 2019 from the same period a year earlier, government sources said.


Algeria, one of Europe’s major gas suppliers, is struggling to increase production amid growing domestic consumption and a lack of foreign investment.


The government has yet to reveal any significant progress in a plan it announced two years ago to introduce amendments to the country’s energy law to make the sector more attractive to investors.


Oil and gas are the main source of income for the state, contributing 60% of the state budget and 94% of export revenues.


Despite Algeria’s the decrease in overall energy production, LNG production rose by 12.5% in the first six months of the year, according to data released by the National Statistics Office without giving any figures.


Last year, Algeria produced an estimated 1 million barrels per day of crude oil and 135 billion square meters of gas.