Algerian Hydrocarbon Sector
Hydrocarbons play a crucial role in Algeria's economy, accounting for roughly 60% of budget revenues and over 95% of export earnings. The country ranks fourteenth in petroleum reserves, containing 11.8 billion barrels (1.88×109 m3) of proven oil reserves with estimates suggesting that the actual amount is even more. The U.S. Energy Information Administration reported that in 2005, Algeria had 160 trillion cubic feet (Tcf) of proven natural gas reserves, the eighth largest in the world. As a result, Sonatrach is very important politically. Most Energy Ministers of Algeria have come from a Sonatrach background.
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