industrial oil distillation system in algeria

                                               
                                               
                                               
                                               
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  • Why is Algeria a volatile oil market?
  • Algeria is essentially dependent on the hydrocarbon industry, and at the same time vulnerable to the volatile oil market. The first oil discoveries in Algeria date back to 1956. While French colonizers initially had control of local production, Algeria started to directly manage its oil resources after the 1962 War of Independence.
  • How much oil does Algeria produce a day?
  • Amounting to over 12 billion barrels, its proven crude oil reserves are the third-largest in Africa after those of Libya and Nigeria. In 2021, crude oil production stood at around 1.4 million barrels per day. Oil and fossil fuels dominate Algeria’s industrial sector, create significant export value, and impressively contribute to the economy.
  • When was oil discovered in Algeria?
  • The first oil discoveries in Algeria date back to 1956. While French colonizers initially had control of local production, Algeria started to directly manage its oil resources after the 1962 War of Independence. During the process of nationalization of the oil industry, the state-owned enterprise Sonatrach was founded in 1963.
  • Why is Algeria a major oil producer and exporter?
  • In addition, Algeria solidified its role as a main oil producer and exporter in the international landscape by joining the Organization of the Petroleum Exporting Countries (OPEC) in 1969. Hydrocarbons massively contribute to the Algerian foreign trade, as oil and mineral fuels account for around 95 percent of the total exports.