Algerian state oil firm Sonatrach is finally having to learn to live within its reduced means.

Key oil and gas figures for 2017, released by Abdelmoumen Ould Kaddour, CEO of state firm Sonatrach on 2 May, indicate that the company, which dominates the country’s upstream slashed capex by 8.8% to $8.1bn last year.

Algeria faces mounting economic challenges: its foreign reserves halved between end-2013 ($195bn) and end-2017 ($97bn), whilst the country notched up an $11bn trade deficit...