Browsing: Algeria economy 2022

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The findings are quite encouraging for Sonatrach and Algeria, both of which have not seen major increases in their hydrocarbon reserves since the middle of the 2000s.

Since the beginning of the year, Algeria has experienced an increase in the amount of oil and gas being exported via pipeline and sea; Algeria has provided Italy with 13.9 billion cubic metres, which is more than 113 per cent of the amounts that were originally expected.

More recently, Occidental (US), Total Energies (France), and Eni (Italy) came to an agreement worth US$4 billion to develop a site located in the Berkine perimeter and generate 1 billion barrels of oil equivalent. The transaction was signed by all three companies.

Sonatrach and other international oil firms can now enter into production-sharing agreements according to a hydrocarbon law passed in 2019, despite the fact that the legislation sparked some street protests. However, it established a …

Africa's 5 Wealthiest Nations
  • Nigeria is mostly reliant on petrol but it is also a developing market, with expanding service, financial, technology industries, and communication
  • GDP can help investors make investment decisions because a weak economy frequently indicates lesser earnings and stock values
  • South Africa’s economy is well-diversified and it relies on a variety of sources for its stability

While there are a variety of approaches for comparing different countries’ wealth, one of the most effective is to examine the individual country’s gross domestic product, also known as GDP.

During a given period, the gross domestic product (GDP) of a country is the conventional metric of value-added via the production of goods and services in that country, as measured by the United Nations. The amount paid on finished goods and services, as well as the amount of income produced from that output, is included in this calculation (fewer imports).

The Gross Domestic Product …