Algeria: USD 16 billion of oil revenue since January

Algeria exported $ 16 billion of oil during the first five months of 2009, said Wednesday the president of oil and gas group Sonatrach public, Mohamed Meziane.

•     “We made between January and May a revenue of approximately $ 16 billion which gives us an average income of over $ 3 billion a month” since the beginning of the year, “said Mr. Meziane to the Algerian agency APS.
  
      Algerian revenues from oil exports were $ 13.1 billion at the end of April, according to official figures.
  
  Oil revenues represent 98% of total exports of Algeria.
  
      A barrel of crude oil between U.S. $ 70-80 is the appropriate price for Sonatrach to continue its investment program”, had already declared Mr. Meziane.
  
      The average price of crude Algerian Sahara “blend” achieved during the month of May 57.27 dollars, while the average during the first five months of the year is about $ 48, according to the Algerian Ministry of Energy and Mines.
  
      The Minister of Energy and Mines, Chakib Khelil predicts oil revenues between 40 and 45 billion dollars for 2009.
  
      
  Ennaharonline/ M. O.