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Algeria says gas and oil output slightly down by 3.3pct in Q1 2016

Official data showed that Algeria’s overall energy output rose 3.3 percent in the first quarter of 2016 from the same period last year but crude oil and natural gas production was slightly down.

The OPEC member relies heavily on earnings from oil and gas production, which account for around 60 percent of the state budget and 95 percent of total exports, despite steps to diversify the economy.

According to the country’s Statistics Office, but it gave no actual volumes, gas and crude oil production declined 0.5 percent in the first three months against the the same period in 2015.

It said that liquefied natural gas production was up 21.5 percent, while its output of refined oil products was up 5 percent.

Meanwhile, state energy company Sonatrach aims to increase oil output to 69 million tonnes in 2016, against 67 million tonnes last year, and expects gas production to rise to 132.2 billion cubic metres (bcm) from 128.3 bcm in 2015.
Source : REUTERS
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