Algeria’s hydrocarbon production will increase by 2.5% in 2025 – reaching approximately 206 million tons of oil equivalent – according to Minister of Energy and Mines Mohamed Arkab.
As of September 2024, Algeria’s hydrocarbon export revenues for the first three quarters of 2024 exceeded $34 billion, with hydrocarbon-based tax revenue achieving 86% of the year’s forecasted target. Notably, crude oil prices increased by one percent over the same period, while gas prices saw a slight decline. These figures were presented during a budget review session for the 2025 Finance Bill.
Minister Arkab highlighted that Algeria is actively pursuing international partnerships since enacting its revised Hydrocarbons Law in 2019. As a result, recent agreements have been signed with several international energy companies, including Italy’s Eni, Malaysia’s Pertamina and U.S-based Oxy. Negotiations with U.S. majors Chevron and ExxonMobil are expected to be finalized by the end of 2024.
