According to the latest data from the “Attaqa” (Energy) platform, Algeria is the only African country to export oil to another African country in 2024.
Indeed, if the majority of its exports are intended for Europe and Asia, it is South Africa which stands out as unique African buyer of Algerian crude this year.
Algeria’s average crude oil exports reached a level of 410,000 barrels per day between January and October 2024, marking an increase compared to the 378,000 barrels per day recorded during the same period in 2023.
Algeria’s main customers for crude oil are European countries: France, Spain et Italy come first. On the Asian side, the South Korea et India are among the largest importers.
???? ALSO READ: From milk to oil, will the Qatari giant Baladna conquer new markets in Algeria?
France at the top of Algerian oil importers in 2024
According to the latest data from the energy research unit, France rose to the top of the largest importers of Algerian oil during the first ten months of this year. With an average of 86,000 barrels per dayFrance remains a privileged partner of Algiers in the energy sector.
Spain follows closely with an average of 55,000 barrels imported dailywhile Italy completes the podium with a volume of 49,000 barrels per day.
The South Korea ranks fourth with an average of 35,000 barrels imported daily, followed by Portugal with 32,000 barrels. India occupies sixth place with 31,000 barrels per day, and the United Kingdom brings up the rear of the first seven with a volume of 30,000 barrels daily.
Oil exports: Algeria consolidates its position on international markets
South Africa distinguished itself as only African buyer of Algerian oilbut very punctually. Indeed, it was only last July that the country imported Algerian crude, with a volume of approximately 33,011 barrels per day.
This sporadic shopping trend from South Africa dates back to 2018. The country had imported small quantities of Algerian oil in March 2018, then again in March and July 2023, as well as in August of the same year.
The reasons for these fluctuating trade exchanges between Algeria and South Africa are multiple and can be linked to economic, geopolitical factors or even supply strategies specific to each country.
???? ALSO READ: Algerian oil prices: Sahara Blend at its highest since October
Alongside these exports, Algeria displays an ambition to strengthen its hydrocarbon production. As President Abdelmadjid Tebboune pointed out last February, the country plans to increase its hydrocarbon production capacity by 2% per yearbetween 2023 and 2027, to reach approximately 209 million tonnes of oil equivalent (TEP) by 2027.
This ambitious objective is based on a substantial investment plan aimed at developing new fields, optimizing existing fields and accelerating the valorization of hydrocarbons.
???? ALSO READ: Algeria in the Top 3 of the largest African oil producers (OPEC)
In summary, if Algeria is mainly focused on European and Asian markets to sell its oil production, it also maintains commercial relations, although limited in time, with South Africa.
