Tag Archives: Africa

Libya’s national production rose to above 1 million bpd last year after long-term blockades of ports and pipelines ended.

While plunging output in Venezuela captures the oil world’s attention. problems are quietly festering in another OPEC nation.

BP signed a major exploration deal in Libya in 2007 but put its onshore plans on hold in 2014 because of security concerns.

Algeria relies heavily on energy earnings.

The OPEC country'.s output has recovered in the last year to nearly 1 million b d.

Libya. holder of Africa’s largest crude reserves and an OPEC member. is already reeling from political divisions.

Between 30 and 40 percent of fuel refined in Libya or imported into the country is stolen or smuggled.

Italy’s gas imports have tipped away from Algeria towards Russia in recent years as Algerian production has stagnated.

Oil and gas together account for 95 percent of Algeria’s export revenues and contribute 60 percent to its annual budget.

Gas production in Egypt went into steep decline several years ago due to price controls and lower investment from international companies.