ALGERIA

Algeria is spending a massive $90bn on upstream projects by 2019, with gas the main focus. Whilst this is likely to translate into higher output – no small feat after years of declines – the increase will be much less than the headline figures quoted by state firm Sonatrach.

Algeria has set itself the goal of boosting gross hydrocarbon output to an annual 225mn tons of oil equivalent (toe) by 2019, up 12.5% on the 2014 figure of 200mn toe (see graph), according to the...