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Algeria Q1 hydrocarbon output up 13.5 pct

Source: Reuters 7/10/2014, Location: Africa

Algeria's hydrocarbon output increased by 13.5 percent in the first quarter of 2014 after a 10 percent decline in the same period a year earlier, official figures showed, as new projects came onstream.

Increasing energy production is vital for the North African OPEC country. Oil and gas account for about 97 percent of its exports, and the government relies on energy revenue to finance economic development and projects aimed at soothing social tensions.

Output of oil and gas rose by 5.1 percent and of liquefied natural gas (LNG) by 19.9 percent in the first three months of 2014, according to National Statistics Office data.

Refined products production increased 61.1 percent, the data showed.

The government has announced the start-up of a new LNG export plant in the port town of Skikda, where Algeria's largest oil refinery also increased output early this year following months of work on maintenance and improvements.

For more information about related Opportunities and Key Players visit Algeria Oil and Gas Projects

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