{"id":50062,"date":"2015-01-22T18:50:00","date_gmt":"2015-01-22T20:50:00","guid":{"rendered":"https:\/\/escaesco.com.br\/lab\/anba\/algeria-could-increase-oil-production\/"},"modified":"2024-02-21T22:27:16","modified_gmt":"2024-02-22T01:27:16","slug":"algeria-could-increase-oil-production","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/algeria-could-increase-oil-production\/","title":{"rendered":"Algeria could increase oil production"},"content":{"rendered":"<p>S&atilde;o Paulo &ndash; Algeria is considering expanding its oil production this year. According to information from the public news agency <em>Algerie Presse Service (APS)<\/em>, the minister of Energy, Youcef Yousfi, said that the measure could be taken to lessen the impact on exports revenue. Oil sales correspond approximately to 95% of Algeria exports so the profit generated by the commodity is going down because of the drop of oil prices. <\/p>\n<p>The Algerian public oil company Sonatrach produces 1.2 million barrels\/day. According to APS, that is the quota established for Algeria by the Organization of the Petroleum Exporting Countries (Opec).<\/p>\n<p>&ldquo;Today, we are speeding up the development of dozens of [oil] fields. We will [study] the possibility of increasing our hydrocarbon production to recover our country&rsquo;s revenues&rdquo;, said Yousfi during a hearing at the Committee for Economic, Developing, Industry, Commerce and Planning Issues of the People&rsquo;s National Assembly. <\/p>\n<p>The minister stated that it&rsquo;s not known yet how long &ldquo;the crisis&rdquo; will last and noted that the North of Africa country needs to fund its development without the need to search for funding in the international market. <\/p>\n<p>Last year, Algeria&rsquo;s exports dropped 3.1% over 2013. According to the Algerian Customs&rsquo; National Centre of Data Processing and Statistics (CNIS), the drop was caused by a 4.5% reduction with revenues from&nbsp;oil and its products. This Thursday (22th), the Brent crude was dealt at US$ 45.70. In June of last year, the price was over US$ 100 per barrel. <\/p>\n<p><strong>*Translated by S&eacute;rgio Kakitani<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-178276\">Press Release\/Sonatrach<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With the drop in the commodity\u2019s price, the government is considering producing more to compensate the loss of exports revenue.<\/p>\n","protected":false},"author":2316,"featured_media":178276,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-50062","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"wps_subtitle":"With the drop in the commodity\u2019s price, the government is considering producing more to compensate the loss of exports revenue.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/50062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=50062"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/50062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/178276"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=50062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=50062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=50062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}