12% drop in national crude oil production by the end of May 2024

12% drop in national crude oil production by the end of May 2024
12% drop in national crude oil production by the end of May 2024

National crude oil production stood at 576 kilotons (kt) at the end of May 2024, a decrease of 12% compared to the end of May 2023, according to the National Observatory of Energy and Mines.

The daily average of oil production fell from 33.8 thousand barrels/d at the end of May 2023 to 29.8 thousand barrels/d at the end of May 2024, the Observatory said in its monthly report on the energy situation for May 2024, published on Tuesday.

This decline affected several fields, namely Gherib (-34%), Ashtart (-16%), Baraka (-51%), El Hajeb/Guebiba (-13%), MLD (-21%), El borma (-7%), Halk el Manzel (-17%) and Nawara (-12%).

On the contrary, other fields recorded an increase in production, namely Sidi Marzoug (+11%), Bir Ben Tartar (+79%), Sidi Litayem (+28%) and Ch.Essaida (+25%).

Natural gas resources down 20%

Natural gas resources (national production + tax package) reached 907 ktep at the end of May 2024, thus recording a decrease of 20% compared to the same period in 2023.

The production of dry commercial gas has decreased, in fact, by 30%, the royalty on the passage of Algerian gas recorded a decrease of 2% at the end of May 2024 compared to the end of May 2023, standing at 408 ktep.

Furthermore, the distribution of the total royalty between the royalty transferred to STEG and the exported royalty shows that the largest part is transferred to STEG (85%).

The tax package on the passage of Algerian gas fell significantly during the first half of 2020, the pandemic which affected Europe and in particular Italy had a strong impact on energy demand and consequently the quantity of gas which transits from Algeria to Italy via Tunisia.

However, an improvement was observed from July 2020 and continued during the following years.

Algerian gas purchases recorded a quasi-stability between the end of May 2023 and the end of May 2024, to stand at 853 ktep. The national supply of natural gas recorded a decrease of 5% between the end of May 2023 and the end of May 2024 to stand at 1697 ktep.

-

-

PREV Air pollution, 2nd leading cause of death worldwide
NEXT The Paris Stock Exchange is back in the saddle, eyes are once again focused on Powell, but especially on American inflation