National Energy and Mines Observatory Publishes October 2024 Energy Situation Report
The National Energy and Mines Observatory, under the Ministry of Industry, Mines, and Energy, published the "Energy Situation: October 2024" report on December 20.
Primary Energy Resources Down 16%
The report reveals that primary energy resources stood at 3.2 Mtep as of the end of October 2024, marking a 16% decrease compared to the same period in the previous year. This decline is mainly attributed to the reduction in national crude oil and natural gas production.
Algerian Gas Transit Royalty Down 11%
The royalty on Algerian gas transit decreased by 11% as of the end of October 2024 compared to the end of October 2023.
Energy Trade Balance Sees 17% Deficit Increase
Furthermore, energy product exports saw a 9% value decrease, accompanied by a 9% value increase in imports. The energy trade balance deficit rose from 7787 MDT as of the end of October 2023 to 9074 MDT as of the end of October 2024, representing a 17% increase, taking into account the exported Algerian gas royalty.
