Thursday, December 8

Algeria’s Jan-Sept hydrocarbon exports up 77% yr/yr to $42.6 bln

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Algeria’s hydrocarbon exports rose about 77% year on year to $42.6 billion for the January-September period, state news agency (APS) cited the energy minister as saying on Sunday.

Algeria’s energy minister Mohamed Arkab added that exports over the same nine-month period last year came to $24.1 billion.

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Arkab added his country’s hydrocarbon revenues are expected to exceed $50 billion by the end of 2022.

He also commented on the OPEC+ decision to slash output by 2 million barrels per day, saying this would help maintain market balance and stabilize prices at around $100 per barrel until this year-end. (Reporting by Moataz Mohamed and Ahmed Tolba; Writing by Yasmin Hussein; Editing by Hugh Lawson and David Evans)