Algeria News & Events, Latest News for Algeria

Update: Monday, 14 April 2008    

Khelil considers that 2006 was better than the previous years

Algeria decides to set up two fuel oil refineries to make up the deficit
Tuesday Oct 03 2006.

The question of amending the hydrocarbons law by a presidential ordinance to be ratified by the parliament very soon will be largely debated in the benches of the People’s National Assembly.

The MPs have started to sharpen up for confronting Minister of Energy Mr. Chakib Khelil during the discussion sessions of the 2007 finance bill in the middle of this month, Parliamentary sources revealed.

Mr. Chakib Khelil considered yesterday that 2006 was better as far as growth is concerned. He was talking before the financial commission of the People’s National Assembly when presenting the budget of his sector in the 2007 financial bill.

As regards the growing demand on fuel oil, the Minister said that the national production rate estimated at 60 million tons is equivalent to the national demand. This requires putting a strategy to increase the production for the coming years.

In this context, Khelil told that the government scheduled the achievement of two fuel oil refineries by the beginning of 2008 to make up the deficit in such fuel, a member of the commission revealed to El Khabar.

He added that Algeria is currently producing 7 million tons fuel oil a year whereas the market demands are estimated at 8 million tons. Bu the Minister recognised that making up the deficit will not be possible before the year2010.

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