• #ALGERIA
• #Business
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• #Economy
• #Hydrocarbons
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• #Trending

The short-term outlook for the Algerian economy has improved significantly, due in particular to the rise in hydrocarbon prices and economic diversification efforts, said the head of the delegation of the International Monetary Fund (IMF) in Algiers, Genevieve Verdier.

• #LIBYA
• #Business
• #DecisionMakers
• #Economy
• #Energy
• #Hydrocarbons
• #NOC
• #Oil
• #Politics
• #Trending

Hydrocarbon revenues for 2022 are expected to reach USD 37 billion, a record level since 2013. In a context of rising oil and gas prices, a 36% increase in revenues is expected in 2022 compared to 2021, while the average production fell from 1.18 mb/d to 1.02 mb/d due to the three months of oil blockade between April and July 2022.

• #LIBYA
• #Economy
• #Energy
• #Hydrocarbons
• #Industry
• #NOC
• #Oil

The oil blockade on six extraction fields between mid-April and mid-July 2022 led to a drop of 865,000 bpd in oil production and nearly 220 million m3 in natural gas production per day. The cost of these three months of blockage is estimated at around 3.5 billion USD.