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Algeria to Increase Energy Production

Algeria to Increase Energy Production

Tuesday, 2 March, 2021 - 08:30
Fuel storage tanks are pictured in Algiers, Algeria April 21, 2020. (Reuters)

Algeria Mining Minister Mohamed Arkab stressed Sunday the need to continue efforts to renew hydrocarbons reserves and increase production.


“We must work on ensuring energy security,” he said, while urging the need to implement the Gara Djebilet mine and the phosphate projects in eastern Algeria


He ordered officials at the ministry to cooperate with institutions in the sector to improve the quality of services to the people and ensure that energy is provided.


He called for the swift completion of the merger of the mining and energy sectors so that focus can be shifted towards major projects in the sector.


Separately, Algeria decided to increase its share at the African Development Bank (AfDB) capital through underwriting 6,083 additional shares.


President Abdelmadjid Tebboune issued a decree in the official gazette, licensing Algeria’s underwriting in the AfDB shares.


Algeria’s issuance will be paid from the treasury, in accordance with a resolution dating to May 27, 2010, and a resolution dating to Oct. 21, 2020.


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