Petroleum Africa
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Tuesday, July 21, 2020
Algeria’s new Minister of Energy, Abdelmadjid Attar, says that the North African country expects its oil and gas revenue to decrease to $23 billion this year, down $10 billion from last year’s $33 billion.
“We are in a difficult economic situation,” Attar told state radio.
The COVID-19 pandemic has had a detrimental effect on global oil and gas operations worldwide, and Algeria is no different. Algeria had hoped to spur investment in its petroleum sector when it passed a new energy bill last November.
President Abdelmadjid Tebboune at a recent Council of Ministers meeting said state oil concern Sonatrach shall go an audit with an aim to modernize its management, improve its operational efficiency and competitiveness and upskill its human resources.
Sonatrach, in a statement, said that it has decided to pursue the realization of its strategic program through improvement projects covering, among other things, the modernization of the human resources function, the implementation of an information system. (ERP, digitalization, etc.), the revitalization of the research and development function and the promotion of local content.
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