Algeria, June 15, 2017

1

President Bouteflika calls for better development in Hydrocarbons, renewable energy

The President of the Republic, Abdelaziz Bouteflika, has urged, on Wednesday, the government to make greater use of all the resources and wealth of the country, including hydrocarbons and renewable energies.

Speaking about the adoption of the Government Action Plan, in the Council of Ministers meeting he chaired, the Head of State has called the Government to a better use of all the resources and wealth, available to the country, conventional and non-conventional fossil fuels, as well as renewable energies, “said the Council of Ministers’ statement.

Algeria intends to intensify its hydrocarbon exploration effort to meet the energy needs of the domestic market and also to consolidate its position as a reliable country on the international market.

For the next five years, oil production is expected to increase by 75 million tons in 2017 and 2018, before rising to 77 million tons by 2019 to reach around 82 million tons by 2020.

Thus, between 2015 and 2021, Sonatrach Company, has spent an annual investment of more than $ 9 billion on exploration and exploitation projects, the first results of which allowed an increase in production to be recorded as early as 2016, after several years of decline.

dzbreaking



Forex News Headline



Forex Market Video