Algiers – The volume of oil, gas and products exported by Algeria last year dropped 2.88% over 2016, according to data from the Bank of Algeria, the country’s Central Bank. The information was published this Wednesday (21) by news outlet Algérie Presse Service (APS). In 2017, 108.48 million tons of oil equivalent (toe) were exported.
The drop occurred mainly in exports of liquid hydrocarbons, aside the sales of crude oil done by state-owned company Sonatrach. Exports of gas didn’t decline as much.
Despite the drop in volume recorded throughout last year, the rise in oil prices allowed for an increase in exporting revenues, which totaled USD 33.06 billion, against USD 27.92 billion in 2016, a 18.42% hike.
According to APS, the barrel’s average price stood at USD 40.59 in 2016’s first six months and went up to USD 48.17 in the following six-months period. Later, it climbed to USD 50.85 in 2017’s first six months and reached USD 57.24 in last year’s last six months.
In 2017, the barrel’s average price stood at USD 53.98, against an average of USD 45 throughout 2016. Foreign sales of hydrocarbons are, by far, the main source of revenues to Algeria.
Algeria’s exports of oil, gas and product to Brazil increased in both volume and revenues. Brazil imported USD 2.226 billions worth of these products, up 40.45% over 2016. The country bought 4.851 million tons, an increase of 16% in the same comparison. The data is from Brazil’s Ministry of Industry, Foreign Trade and Services (MDIC).
Translated by Sérgio Kakitani
