Algeria Oil and Gas Services Tenders and Bids

Get access to latest Algeria oil gas services tenders and bids. Find business opportunities and government contracts for Algeria oil and gas services tenders, Algeria oil gas exploration tenders, oil gas plant maintenance tenders, Algeria oil gas supply tenders, Algeria oil gas testing tenders, Algeria oil gas pipeline tenders, Algeria drilling tenders, Algeria logging tenders. Find Algeria oil gas services bids, tenders, procurement, RFPs, RFQs, ICBs. The country has enjoyed several years of strong economic performance, with solid non-hydrocarbon growth, low inflation, an overall budget surplus of 8% of GDP and a positive trade balance of 28% of GDP in 2008. Average annual non-hydrocarbon GDP growth averaged 6 percent in 2003–2007, with total GDP growing at an average of 4.5% during the same period due to less buoyant oil production in 2006–07. After having virtually eliminated external debt before 2013, the drop hydrocarbon prices and revenues has led to a large budget deficit which has been only partly offset by spending cuts. Consequently, government debt has increased to more than 30% of GDP. Inflation has remained at 3-6% on average for 2013–17. However, the economy remains highly dependent on hydrocarbons, which represent 94% of total exports; a continued slowdown of global energy demand has significantly put pressure on Algeria's fiscal and external positions. The nominal GDP in 2017 was US$167.5 billion. Algeria has enormous possibilities to boost its economic growth, including huge foreign-exchange reserves derived from oil and gas. A development strategy targeting stronger, sustained growth would create more jobs, especially for young people, and alleviate the housing shortage the country is facing. The national strategic option is therefore to revitalise the process intended to diversify the economy starting with the non-oil sector while deepening the reforms needed for the structural transformation of the economy. Petroleum, also known as crude oil and oil, is a naturally occurring, yellowish-black liquid found in geological formations. It is commonly refined into various fuels and chemicals. Components of petroleum are separated by means of distillation. Petroleum mainly consists of hydrocarbons as well as traces of other organic compounds. The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that are made up of refined crude oil. A fossil fuel, petroleum is formed when large quantities of dead organisms, mostly zooplankton and algae, are buried underneath sedimentary rock and subjected to both prolonged heat and pressure. Fuel oil (also known as heavy oil, marine fuel, bunker, furnace oil, or gasoil) is a fraction obtained from the distillation of petroleum (crude oil). It includes distillates (the lighter fractions) and residues (the heavier fractions). Oil has many uses; it heats homes and businesses and fuels trucks, ships, and some cars. A small amount of electricity is produced by diesel, but it is more polluting and more expensive than natural gas. It is often used as a backup fuel for peaking power plants in case the supply of natural gas is interrupted or as the main fuel for small electrical generators.