State-owned oil and gas company Sonatrach, the backbone of Algeria’s economy, is reeling under an acute brain drain as its recent discoveries fail to offset the decades long depletion of the country’s hydrocarbon resources. He described such a brain drain as “acute bleeding,” adding that the company is working on measures to train new managers. Algeria’s oil and gas producing capacity is shrinking every year. International Think Tanks have been worrying in recent years over Algeria’s declining gas production coupled with a surge in domestic consumption. Since 2007, Algeria’s consumption of oil and natural gas has risen by more than 50 percent while its oil production has fallen by 25 percent.

Source: The North Africa Journal August 17, 2018 15:11 UTC