During a press conference to present Algeria’s national hydrocarbons company, Sonatrach’s results for 2020 and the first five months of 2021, the company revealed a $20 billion export turnover in 2020, down 39% from 2019. The decline is related to COVID-19’s impact in the current year.
According to Mohamed Rochdi Boutaleb, Director of Performance Management for the Sonatrach group, the Covid-19 health crisis in 2020 impacted almost all economic sectors around the world, particularly oil and gas, with oil companies reporting losses of up to 40% of their revenue, prompting them to cut their investments by 32%.
He cited the 35% drop in Sahara Blend’s annual average price, the national company’s reduction in crude oil production per OPEC+ decisions, the 35% reduction in investment and 13% reduction in operating costs budgets, compared to the initial 2020 budgets.
He said: “For Sonatrach, the impact was similar to that recorded on companies.”
“[Despite the pandemic] the efforts made by Sonatrach have made it possible to achieve positive results, particularly in terms of exploration and renewal of reserves, commissioning of new gas projects and infrastructures and export for the first time in a decade of diesel and gasoline.”
SOME OF THE DATA PRESENTED FOR 2020 AT THE CONFERENCE ARE:
- Sonatrach’s investment of $5.7 billion was 30% lower than in 2019.
- Taxes paid to the state totalled 1.853 billion DA, down 31% from the previous year.
- Hydrocarbon primary production totalled 176 million TOE (tonnes of oil equivalent), down 6% from 2019.
- In 2020, marketed production was 140 million TOE, down 7% from the previous year.
- TOE exports totalled 81 million.
- The domestic production of refineries increased to 28 million tons in 2020, up 7% compared to 2019.
- Imports of certain types of hydrocarbons fell by 81% (0.9 million tonnes) in 2020 compared to 2019.
SOME OF THE PRESENTED DATA FOR THE FIRST FIVE MONTHS OF 2021 ARE:
According to him, the quantified aggregates are “in clear improvement” compared to 2020 in the first five months of 2021.
- The primary production of hydrocarbons reached 78 million TOE, up 4% compared to the end of May 2020.
- The production of refineries reached 12 million tonnes, up 3% compared to the end of May 2020.
- Marketed production reached 67 million TOE, up 17% compared to the end of May 2020.
- Total exports approached 41 million TOE.
- Export turnover stood at $12.6 billion during the first five months of 2021, against 8.7 billion dollars at the end of May 2020.
- Hydrocarbon imports fell to 0 .1 million tonnes, down 83% compared to the end of May 2020.