Algeria's 2004 oil and gas export revenue seen at new record

Dec 16, 2004 01:00 AM

Algeria's hydrocarbon export earnings are expected to hit a new record of over $ 30 bn this year, up by a quarter on last year on high oil prices and greater output.
Citing figures just released from the Algerian Ministry of Energy and Mines on the first half of 2004, AOG said oil and natural gas exports were up 5.4 % at 70.1 mm tons of oil equivalent versus the same period in 2003.

According to the data, Algeria's crude oil exports were 27.6 mm tons or around 1.1 mm bpd in the first half -- almost 20 % higher than a year earlier. Gas exports were also higher at 17.73 bn cm of gas -- a 7 % increase from a year earlier.
However, exports of LNG fell by around 10 % to 13.38 bn cm in the first half due to an explosion in January that destroyed three LNG trains at Skikda -- one of the country's two LNG export terminals on the Mediterranean.

Source: Dow Jones
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