Cairo — Algeria expects revenues from oil and gas sales of up to $33 billion in 2021, state news agency APS said on Tuesday, quoting the head of national state-owned energy company Sonatrach.
“For 2021, we expect revenues between 30 and 33 billion US dollars, depending on the developments in the global oil market,” Sonatrach Chief Executive Toufik Hakkar said.
He added that revenues are witnessing a “remarkable improvement” this year compared to 2020, when activities were affected by the COVID-19 crisis.
Revenues reached about $20 billion in the first eight months of this year, “which is equivalent to the whole of 2020,” Hakkar said.
- Reuters (Reporting by Ahmad Elhamy; editing by Jonathan Oatis)