Algeria is not an oil behemoth of the caliber of the United States, Russia or Saudi Arabia, but is nevertheless among the countries with a significant volume of production.
According to the ranking of the specialized site ” Trading Economics “, Algeria is in the world’s top 20 black gold producing countries.
Algerian production is around one million barrels per day. It is precisely 999,000 barrels following the last update of the classification, against 1.008 million barrels during the previous evaluation.
This volume places Algeria in 20th place in the world, ahead of countries with huge reserves such as Nigeria and Venezuela (19th and 20th respectively).
Since last April, Algeria has twice announced a reduction in its production, of the order of 48,000 barrels/day each time, within the framework of the quota reductions decided by the OPEC+ countries.
Algeria, 3rd African oil producer
In Africa, Algeria is third, not very far from first, Libya (1,135,000 b/d) and second, Angola, which produces 1,063,000 barrels daily. Next comes Nigeria with almost the same volume as Algeria, Egypt (560,000 barrels) and the Democratic Republic of Congo (277,000 bpd).
The world ranking is dominated by the United States with a daily production volume of more than 12 million barrels (12.69 million barrels), followed by Russia (10.47 mb/d) and Saudi Arabia (10.46,000 bpd).
The other major world producers are Canada (4.6 mb/d), China (4.29 mb/d), and Iraq (4.2 mb/d). The top 10 is completed by Brazil, the United Arab Emirates, Kuwait, and Iran with 3.2, 3.04, 2.67, and 2.63 million barrels/day respectively.
Algeria’s hydrocarbon (oil and gas) production increased in 2022 by 2% compared to 2021, rising from 185.2 to 188.6 million tonnes of oil equivalent, according to its report for the year 2022 published by Sonatrach at the end of March. Oil and gas exports brought in $60 billion in the same year.
In addition to oil, Algeria has significant gas reserves coupled with large production and export capacities.
Last December, the Insider Monkey site ranked Algeria 16th in the world for oil reserves, with proven reserves estimated at 12.2 billion barrels.
Other sources estimate the country’s gas reserves at 4.5 trillion cubic meters. Algeria would also hold the world’s third-largest reserves of shale gas.
