Middle East Economic Survey

VOL. LII

No 30

27-Jul-2009

ALGERIA

Sonatrach Oil And Gas Revenues For 1H09 Down By Half

Algerian state energy firm Sonatrach earned $19.9mn from oil and gas exports in the first six months of this year, according to official media channels, which represents just 50% of the companys revenues for the same period last year. Speaking on Algerian radio on 19 July, Sonatrachs CEO Muhammad Meziane played down the sharp fall in revenues, pointing to the collapse in oil prices...