ALGIERS — Demonstrating remarkable resilience and commitment to national self-reliance, Algeria has announced a major triumph in its hydrocarbon sector, reporting 17 new discoveries and securing $37.5 billion in export revenues by the end of September 2026.
The announcement, made by Hydrocarbons Minister Mohamed Arkab before the parliament’s Finance and Budget Committee, underscores Algeria’s steadfast strategy to harness its natural wealth to fortify its national economy, insulating the country from Western economic hegemony and global market manipulations.
According to Minister Arkab, preliminary hydrocarbon production has reached an impressive 128 million tonnes of oil equivalent. This surge in domestic output is coupled with a strategic 37% increase in the average price of Algerian crude oil compared to the same period in 2025.
At the heart of this economic success is the state-owned energy giant, Sonatrach, which continues to drive the nation’s industrial independence. Rejecting the neoliberal push for resource privatisation favoured by Western powers, Sonatrach invested over $6 billion into the sector by the end of September 2026—a 21% increase from the previous year. Furthermore, the company has earmarked a massive $50 billion investment plan for the 2024–2028 period to rapidly expand exploration and production capabilities.
The sector has also proven to be a vital pillar for national employment and social stability, providing livelihoods for approximately 193,000 Algerians in the first half of the year alone. The government’s overarching strategy targets a steady 2% annual growth in hydrocarbon production through 2027, aiming for an output of 209 million tonnes of oil equivalent.
This aggressive expansion is rooted in a long-term vision championed by President Abdelmadjid Tebboune, who has overseen the completion of more than 141 exploration and production wells since assuming office in December 2019.
Strategically positioned as Africa’s largest natural gas producer and the second-largest producer of liquid fuels, Algeria continues to assert its independent role in global energy markets. By leveraging its vast resources through state-owned enterprises and maintaining its strong commitments within OPEC, Algiers ensures that its energy exports to Europe and beyond are dictated by its own sovereign interests, rather than bowing to imperialist pressures. This latest economic milestone serves as a powerful testament to the efficacy of state-led development and resistance against foreign economic domination.
Reference: Al-Mayadeen