{"id":30289,"date":"2021-09-16T10:03:58","date_gmt":"2021-09-16T10:03:58","guid":{"rendered":"https:\/\/jazairhope.org\/?p=30289"},"modified":"2021-09-16T10:03:58","modified_gmt":"2021-09-16T10:03:58","slug":"algeria-aims-for-2-6-bln-increase-in-energy-investment-next-year","status":"publish","type":"post","link":"https:\/\/jazairhope.org\/en\/algeria-aims-for-2-6-bln-increase-in-energy-investment-next-year\/","title":{"rendered":"Algeria aims for $2.6 bln increase in energy investment next year"},"content":{"rendered":"<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-0\">ALGIERS, Sept 13 (Reuters) &#8211; OPEC member Algeria plans to increase investment in its oil and gas sector by $2.6 billion next year to boost production by 8.9 million tonnes of oil equivalent, Prime Minister Ayman Benabderrahmane said on Monday.<\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-1\">Oil and gas investment in 2022 will total $10 billion , up from $7.4 billion this year, aiming to increase output to 195.9 million tonnes of oil equivalent from 187 million tonnes of oil equivalent, Benaberrahmane told parliament as he presented his government action plan.<\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-2\">Algeria, which relies heavily on the energy sector, last year halved planned investment spending in oil and gas to $7 billion to cope with financial pressure caused by a fall in global crude oil prices due to the pandemic.<\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-3\">The government expects energy export earning to rise to $33 billion this year from $20 billion in 2020 after a rise in oil prices in international market.<\/p>\n<div class=\"SpacingContainer__container___2kvuUN SpacingContainer__max-width___1aBoiA\">\n<div class=\"AdSlot__container___vv9J1U\">\n<div class=\"AdSlot__inner___1TrdcP\">\n<div>\n<div id=\"reuters_desktop_native_1\" class=\"AdSlot__slot___1GI9_W\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-4\">The action plan includes reforms to improve the investment climate mainly in the non-energy sector to help to reduce Algeria&#8217;s reliance on oil and gas which account for more than 90% of total export earnings and 60% of the state budget.<\/p>\n<p class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__large___1i0u1F Body__base___25kqPt Body__large_body___3g04wK ArticleBody__element___3UrnEs\" data-testid=\"paragraph-5\">The plan also included a commitment to keep the government&#8217;s subsidy policy unchanged to avoid social unrest. It currently subsidies almost everything from basic foodstuffs to housing, medicine and fuel.<\/p>\n<div class=\"ArticleBody__content___2gQno2\"><span class=\"Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text__default___1Xh7Yh SignOff__text___2onKdN\">Reporting by Hamid Ould Ahmed. Editing by Jane Merriman<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ALGIERS, Sept 13 (Reuters) &#8211; OPEC member Algeria plans to increase investment in its oil and gas sector by $2.6 billion next&hellip;<\/p>\n","protected":false},"author":70,"featured_media":30290,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[15,12,4],"tags":[],"class_list":["post-30289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-algeria","category-economy","category-featured-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Algeria aims for $2.6 bln increase in energy investment next year - AAH.JZR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jazairhope.org\/en\/algeria-aims-for-2-6-bln-increase-in-energy-investment-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Algeria aims for $2.6 bln increase in energy investment next year - 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