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Algeria eyes oil and gas revenue of $30 bln in 2021: Sonatrach head

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Algeria expects revenue from oil and gas sales to reach $30 billion in 2021 if oil prices remain between $65 and $75 a barrel, the head of national state-owned oil and gas company Sonatrach said on Tuesday.

Oil and gas revenues totalled $12.6 billion for the first five months of 2021, up from $8.1 billion in the same period last year, Toufik Hakkar added.

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In November 2019, Algeria passed a new energy law to make its oil sector more attractive for foreign investors.

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