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Algeria's H1 oil, gas exports edge down to 50.59 million mtoe: Central Bank

Algeria's oil and gas exports in the first half of this year fell 1.09% year on year to 50.59 million mt oil equivalent (2.06 million boe/d) from 51.11 million mtoe, the country's central bank said Monday.

The Bank of Algeria said crude exports for the period fell 3,528 mt year on year, while refined oil product exports rose 2,937 mt over January-June.

Meanwhile, a 2,631 mtoe (573,000 Mcf/day) decline in exports of pipeline gas were offset only partially by a 1,837 mt (490,000 Mcf/d gas equivalent) increase in LNG exports.

The total value of Algeria's hydrocarbon exports in the first half of this year fell 1.37% year on year to $31.83 billion from $32.27 billion, the bank reported. That included a $1.34 billion drop in gas export revenue, partially offset by the $900 million rise in revenue from exports of oil and gas liquids.

The price of Algeria's Sahara Blend export crude averaged $109.45/barrel during the first half of this year, compared with $108.55/b in the first half of 2013, data showed.

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