Mohamed Aqab, the Algerian minister of energy and mines, stated that 50 billion dollars in petroleum sales are anticipated for Algeria through the end of this year.
Given the successes up until September 2022, we anticipate a 2% increase in fuel production at the end of the present year and an improvement in revenues. The nation is a fuel, with an anticipated value of more than 50 billion dollars (an increase of 45 percent compared to 2021).
The petroleum collection could surpass the levels seen in the years prior to 2014, which peaked at a maximum of 4,000 billion Algerian dinars annually, he continued.
“Exports outside of hydrocarbons will record a gain of more than 40% compared to the results of 2021, mostly driven by increased exports of mining materials and petrochemical products,” he stated.
He noted that a value of $3 was invested in the mining and energy industries.
With an increase of 8% from the same time in the year 2021, 6 billion has been budgeted for the first semester of 2022.
This, and the minister stressed that the recent decision of the countries “OPEC” and “OPEC+” to reduce the level of production by two million barrels per day, would maintain the balance of the market and the stability of prices within the limits of $ 100 barrel to the end of the year.
He explained that oil prices were known to be recovered after the unprecedented collapse that the markets knew at the beginning of the year 2020 with the emergence and spread of the Corona Jeran, stressing that the oil barrel exceeded the threshold of 109 dollars at the end of September 2022 contributed to improving the total indicators of the Algerian economy.
Algerian News Agency is the source.
According to the energy minister of Algeria, fuel sales will top $50 billion by year’s end.
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