Toufik Hakkar, CEO of Algerian state oil firm Sonatrach, this week said that he expects the country’s oil and gas revenues to come in at $30-33bn for 2021, up from around $20bn last year. While such an amount would provide much-needed relief to state-coffers, it is still well below levels Algeria had become accustomed to as crude prices averaged $100/B-plus in the first half of last decade (see chart).
“We have already achieved some $20bn between the start of the year and 21 August, which is equivalent to revenues for the whole of 2020,” Mr Hakkar said in comments carried by state news agency APS on 31 August. (CONTINUED - 572 WORDS)
