Tunisia Becomes Self-Sufficient in Fuel
Business
Tunis - Mongi Saidani
The Tunisian Ministry of Industry, Energy and Mines has announced a 4,000 barrels per day increase in the domestic production of oil since April 23, saying production has inched at 39,692 bpd compared with 35,400 in Feb. The current output meets 103 percent of local needs amid a sharp drop in demand for oil in the past months. Government sources hinted at an improvement in local production if maintenance works were completed at several Tunisian oil wells. Experts say that by reaching its production peak, the Nawara Gas Field would be able to cover about 30 percent of the energy deficit by meeting around 17 percent of local gas consumption, and contributing by around 700,000 barrels of condensed oil. The Ministry of Finance has set the oil barrel at $65 in this year’s budget, boosting its revenues and helping its economy that has been battered by the drop in global oil prices. In March, demand on oil plummeted by 21 percent as the government imposed a lockdown, crippling the transportation sector. The demand on gasoline declined by 25 percent while that on aviation fuel by 56 percent. Meanwhile, the Ministry of Industry, Energy and Mines decided to optimize all potentials in Tunisia to prioritize Tunisian oil in the short run. This aims to overcome the marketing woes facing the Tunisian Company of Petroleum Activities (ETAP) and Tunisian Company of Refining Industries.
from Asharq AL-awsat https://aawsat.com/english/home/article/2255076/tunisia-becomes-self-sufficient-fuel
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