Oil Boom To Continue

June 2005
Africa Monitor: North Africa Monitor;Jun2005, Vol. 10 Issue 6, p1
Country Report
Country Report
The article focuses on oil price increase. The oil price increase in 2005 will more than outweigh the dip in production and export volumes and the value of oil exports will therefore increase to the U.S. $22.3 billion. Similarly, while production and export volumes will rise in 2006, oil revenues will fall by a hefty 24% as the oil price drops. While the oil price will remain stable in 2007, increased production and exports will ensure a revival of revenues. Gas production will expand throughout the forecast period, although increased domestic consumption will moderate rises in export volumes.


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