ALGERIA: news on Economy in real time

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The Financial Times devoted this April 20 a detailed analysis of the economic situation in Algeria by deciphering the failures of the policy of management of hydrocarbon reserves and national production of oil or gas. For the Financial Times, Algeria has missed a huge opportunity to “exploit its potential” in gas or oil as hydrocarbon prices are breaking records on world markets.

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• #Sonatrach

Sonatrach Group is ranked first in the Arab region in terms of oil exploration, carrying out three new explorations in the first quarter of 2022, and occupies the first place in the annual ranking of "500 best African companies", indicates a press release from the group.

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With reserves estimated at more than 300 years at the rate of production in 2020, Iraq is, along with Yemen, the country in the world that least exploits its enormous potential. Iraq has 3,500 billion m3 of proven reserves, i.e. the 12th largest reserves in the world, behind Algeria and ahead of Azerbaijan. However, these reserves remain largely under-exploited with an annual production which fluctuates between 12 and 14 billion m3 in recent years, placing the country in the rank of 35th to 40th world producer depending on the year.