80 billion dollars of proceeds expected from Algeria oil

Algerian Energy and Mines Minister Chakib Khelil expected that his country to reach the proceeds from oil exports this year to 80 billion dollars, a figure unprecedented.

He pointed out that these proceeds are an inevitable result of the devaluation of the U.S. dollar, which led to a rise in the price of a barrel of oil.

 
The proceeds of Algeria’s oil last year, 59 billion dollars, and 5.3 billion dollars of foreign companies operating in Algeria.

 
Algeria production capabilities increased to 1.45 million barrels per day of oil and 152 billion cubic meters of natural gas, of which 62 billion cubic meters are for export, with plans to raise exports to 85 billion cubic meters at the beginning of 2010.

 
Algeria has about 3% of global reserves of oil, have a life expectancy about 50 years.