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Hydrocarbon Production Up By 3.3% in Q1 2016

Source: Algeria Times 7/11/2016, Location: Africa

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Hydrocarbon production went up by 3.3 percent in the first quarter of 2016 compared to the same period in 2015, said the National Office of Statistics (ONS).

The increase comes after the 3.1 percent decline in hydrocarbon production in 2015 compared to 2014: -7.1% in Q1 2015 compared to Q1 2014, -2% in Q2 2015 compared to Q2 2014, -1.4% in Q3 2015 compared to Q3 2014 and -1.8% in Q4 2015 compared to Q4 2014.

However, during the first three months of 2016, hydrocarbon production showed a significant increase, driven especially by the activity of natural gas liquefaction, which grew by 21.5 percent compared to Q1 2015, in addition to the 5 percent rise in crude oil refining during the same period, said the ONS.

On the other hand, crude oil and natural gas production dropped by 0.5 percent in Q1 2016, but to a lesser extent than in 2015, during which it went down by 2.9% compared to 2014: -4.3% in Q1 2015 compared to Q1 2014, -3.7% in Q2 2015 compared to Q2 2014, -1.5% in Q3 2015 compared to Q3 2014 and -2.1% in Q4 2015 compared to Q4 2014.

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